By Abhinav Parmar

(Reuters) -Newmont has cut about 16% of its workforce as part of a restructuring following the acquisition of Australian miner Newcrest, according to an internal memo to staff seen by Reuters.

The reductions include job eliminations, unfilled vacancies, and changes to role levels, the memo said, reflecting efforts to streamline operations and integrate the two companies.

Newmont bought Newcrest in 2023 for about $17 billion and following the acquisition, the world’s top gold producer sold more than $2 billion in Canadian assets, cut jobs and trimmed debt in a bid to divestment of non-core operations.

As part of its integration, Newmont launched an overhaul project, known internally as ‘Project Catalyst’.

In the final stage of the cost and productivity plan, Newmont r

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