Newmont Completes Sweeping Workforce Restructuring

The world’s leading gold producer, Newmont Corporation, has implemented one of the most significant workforce reductions in the mining sector, eliminating approximately one in six positions globally. This decisive action follows the company’s multi-billion dollar acquisition of Australian rival Newcrest in 2023, with investors responding by pushing shares down as much as four percent in Friday’s trading session. The central question facing the market is whether this represents a strategic streamlining or a desperate cost-cutting measure.

These structural changes coincide with a pivotal leadership transition. Current Chief Executive Officer Tom Palmer is scheduled to step down by year-end, handing over control to Natascha Viljoen, who currently serves as President Read more...