Newmont’s (NYSE: NEM) restructuring plan after its acquisition of Newcrest Mining has impacted around 16% of its entire workforce, according to a memo seen by Reuters.
In late August, Bloomberg reported that the world’s largest gold miner would carry out a sweeping restructuring plan following its $17 billion buy of Australia’s Newcrest in 2023. The plan, reflecting Newmont’s efforts to streamline operations and integrate the two companies, could lead to thousands of job losses, Bloomberg said.
As part of this integration, Newmont launched an overhaul project, known internally as ‘Project Catalyst’ — as revealed by Reuters.
Restructuring complete
Citing a company memo, Reuters said the project has led to various job eliminations, unfilled vacancies and changes to role levels at Newmont. In the final stage of the restructuring, the company reduced roles by roughly 12% at its “Level of…
