Barrick axes another 100 jobs

Gold mining major Barrick Gold has announced further job cuts with plans to axe 100 jobs at its corporate offices in Toronto.

The company said on Monday the cuts represent 30 per cent of the head office, reports.

Falling gold prices, rising operational costs, and a lower share price have created a challenging business environment for the company.

Barrick has already moved to cut 55 jobs at its Nevada and Utah operations and earlier this month sacked 60 employees from its Western Australian business, warning its Australian workforce to brace for more job losses over coming months.

Company spokesperson Andy Lloyd said affected employees will receive severance packages and will be offered redeployment services where appropriate.

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