Newmont Cuts 16% of Workforce as Part of Newcrest Integration

Newmont has completed a restructuring that affected approximately 16% of its global workforce. This restructuring follows Newmont's acquisition of Australian mining company Newcrest Mining for US$17 billion in 2023, a deal that was expected to result in thousands of job losses.

Reuters noted that Project Catalyst led to workforce adjustments across the company, including role consolidations and structural changes. During its final phase, Newmont cut roughly 12% of positions at “Level of Work 2,” covering superintendents, leads, and specialists, and around 10% at “Level of Work 1,” which includes advisors, operators, and maintainers.

Further leadership changes are also on the horizon. Newmont CEO Tom Palmer will retire next year, with Natascha Viljoen, currently president and COO, set to take over. As of Dec. 31, 2024, Newmont employed approximately 22,200 workers and 20,400 contractors. “The structural changes are part of several initiatives planned for 2025 to lower our cost base and enhance productivity,” a company spokesperson told Reuters.