Newmont (NEM) has cut about 16% of its workforce as part of a restructuring following the acquisition of Australian miner Newcrest, Reuters reported Friday, citing an internal memo.

In the final stage of the cost and productivity plan, Newmont cut jobs by roughly 12% at "Level of Work 2," which includes superintendents, leads and specialists, and by around 10% at "Level of Work 1," covering advisors, officers, operators, and maintainers, according to the memo.

Newmont employees were told that the restructuring was completed a month ahead of schedule to ease job uncertainty concerns, Reuters reported.

Newmont did not immediately respond to MT Newswires' request for comment.

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