In order to use the Linaro ARM cross-toolchain on Arch Linux, some 32-Bit Libraries need to be available. Arch Linux supports multiarch too, just enable the packages in your /etc/pacman.conf:
[multilib] Include = /etc/pacman.d/mirrorlist
Update your packages
pacman -Sy :: Synchronizing package databases... core is up to date extra is up to date community is up to date multilib 104.5 KiB 148K/s 00:01 [##################################] 100%
Unlike in Debian based distribution the GNU C Library package is called lib32-glibc. Additionally needed libraries by GCC (such as libstdc++6) are included in the package lib32-gcc-libs.
pacman -S lib32-glibc lib32-gcc-libs lib32-zlib