Barrick Gold Seeks Chinese Partners, May Slash Headcount: Globe
- Canadian miner may slash 400 middle managers, newspaper says
- Chairman Thornton dismisses speculation he may depart company
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Barrick Gold Corp. may slash 400 jobs and involve Chinese partners in its troubled Tanzania operations, Executive Chairman John Thornton told the Globe and Mail newspaper.
The Toronto-based company has slashed middle management by half to about 700 and “we want to get it down to 300,” Thornton, who’s been in his role since 2014, told the Globe in an interview in London. The former Goldman Sachs Group Inc. executive wants a leaner, entrepreneurial partnership more like the early days under late founder Peter Munk, the Globe said.