Newmont cuts two dozen middle manager jobs in corporate overhaul
The world’s biggest gold miner, Newmont Corp., is further reducing its corporate workforce as part of an effort to trim costs.
The company has let go of at least two dozen corporate employees, including from its sustainability division and other recently merged teams, according to people familiar with the matter who weren’t authorized to discuss the changes publicly. The latest reductions impact managers with titles including general manager and director, one of the people said.
The cuts are in addition to the previously reported reduction of at least 10 senior managers and an executive.
Newmont didn’t immediately reply to requests for comment.
The company said in February it planned to trim its workforce following its acquisition of Newcrest Mining Ltd. in 2023. The restructuring initiated in November followed disappointing earnings in late October that suggested the gold producer is struggling to control costs and capitalize on surging bullion prices.