Barrick to Reduce Workforce by 55 in Nevada, Utah

By: AP Email
By: AP Email

According to the corporation's website, Barrick operates a number of mines in Nevada, including the following:

- The Bald Mountain mine in the southern Ruby Mountains (between Ely and Elko)

- The Cortez Mine and the Goldrush Discovery south of Battle Mountain

- The Goldstrike Complex (one open-pit, two underground mines) northwest of Elko

- Marigold between Winnemucca and Battle Mountain

- Round Mountain north of Tohopah

- The Ruby Hill mine just outside Eureka

- The Turquoise Ridge property northeast of Winnemucca

No word on exactly which Barrick sites will be affected by the cut-backs.

RENO, Nev. (AP) - The world's largest gold mining company has announced plans to reduce its workforce by 55 positions in Nevada and Utah through voluntary severance packages to certain employees.

Barrick Gold Corp. spokesman Lou Schack says the move is being prompted by falling gold prices, rising project construction costs and a depressed share price.

Plans call for the Toronto-based company to slash about 40 positions in Nevada, 15 in Salt Lake City and five to 10 elsewhere in the region.

Schack says the action affects several groups of support function employees, including administrative, human resources and purchasing workers.

Affected employees have been given time to review the severance offers and make decisions. Schack says the offers are "generous" and include a payment based on years of service and base pay.

As of this week, the gold price has fallen $600 - over 30 percent - since late 2011.

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