Newmont layoffs, on the record
Every job cut, severance charge and restructuring Newmont reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from approximately 21,700 to approximately 17,500.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | approximately 21,700 | December 31, 2023 |
| 10-K for 2024 | approximately 22,200 | December 31, 2024 |
| 10-K for 2025 | approximately 17,500 | December 31, 2025 |
Job cuts, severance and restructuring
Our summaryNewmont implemented a new employment model in Ghana converting permanent employees into two-year fixed term contracts, with eligible employees receiving severance for their years of service.
Word for word“In 2022, Newmont implemented a new employment model in Ghana converting permanent employees into two-year fixed term contracts.” 10-K for 2023
Our summaryRestructuring and severance charges were recorded, primarily for severance and related costs tied to significant organizational and operating model changes, in 2023.
Word for word“Restructuring and severance (7) 24 4 11 Pension settlements (8) 9 137 4 Settlement costs (9) 7 22 11 COVID-19 specific costs (10) 1 3 5 Loss on assets held for sale (11) — — 571 Loss on debt extinguishment (12) — — 11 Impairment of investments (13) — — 1 Other (14) (5) (21) — Adjusted EBITDA $ 4,215 $ 4,550 $ 5,963” 10-K for 2023
Our summaryRestructuring and severance charges recorded in 2022, primarily for severance and related costs tied to organizational and operating model changes.
Word for word“Restructuring and severance 24 4 11 Settlement costs 7 22 11 COVID-19 specific costs 1 38 87 Other 21 18 34 Other expense, net $ 517 $ 82 $ 143 Newcrest transaction and integration costs .” 10-K for 2023
Our summaryNewmont recorded restructuring and severance costs, primarily severance and related costs tied to significant organizational and operating model changes, within Other expense, net for 2024.
Word for word“Restructuring and severance (8) 38 24 4 (Gain) loss on asset and investment sales (9) (35) 197 (35) Gain on debt extinguishment (10) (32) — — Pension settlements (11) 1 9 137 COVID-19 specific costs (12) — 1 3 Other (13) — (5) (21) Adjusted EBITDA $ 8,675 $ 4,215 $ 4,550” 10-K for 2024
Our summaryNewmont recorded restructuring and severance costs, primarily severance tied to significant organizational and operating model changes, within Other expense, net for 2023.
Word for word“Restructuring and severance (3) 38 24 4 COVID-19 specific costs (4) — 1 38 Other 37 21 18 Other expense, net $ 191 $ 517 $ 82” 10-K for 2024
Our summaryNewmont recorded restructuring and severance costs, primarily severance tied to significant organizational and operating model changes, within Other expense, net for 2022.
Word for word“Restructuring and severance (10) 4 0.01 0.01 COVID-19 specific costs (11) 3 — — Other (12) (21) (0.03) (0.03)” 10-K for 2024
Our summaryNewmont recorded accrued severance liabilities on its balance sheet, current and non-current.
Word for word“Accrued severance 19 13 Other post-retirement benefit plans 11 11 Employee pension benefits 5 6 Other employee-related payables 26 34 $ 630 $ 551 Non-current: Accrued severance $ 386 $ 439 Other post-retirement benefit plans 55 66 Employee pension benefits 29 35 Other employee-related payables 85 115 $ 555 $ 655 Pension and Other Benefit Plans The Company provides a defined benefit pension plan to eligible employees.” 10-K for 2024
Our summaryManagement committed to a strategic plan to cut operating costs that included streamlining the organization and reducing the workforce and office space in certain markets.
Word for word“Beginning in the third quarter of 2025, management committed to a strategic plan designed to reduce operating costs and advance the Company’s ongoing commitment to profitability, which included streamlining its organizational structure and a reduction of the Company’s workforce and office space in certain markets.” 10-K for 2025
Our summaryThe company started a severance program for employees at its Yanacocha operations, planning for a wind-down of mining as oxide ore is depleted.
Word for word“During the fourth quarter of 2025, the Company (i) removed the Yanacocha Sulfides development project from its updated life of mine business plan based on the ongoing evaluation of its global portfolio of development projects and prioritization of project sequencing, (ii) downgraded the Yanacocha Sulfides project reserves to resources as a result of dated technical and capital estimates for the tailings storage solution and other design considerations for the project, (iii) executed sales transactions as part of an ongoing plan to market and sell the project equipment to third-party buyers, (iv) initiated a Company severance program with its employees at the Yanacocha operations that contemplates a wind-down of mining operations as oxide ore mining is depleted, and (v) is progressing mine closure activities for the non-operating areas of the Yanacocha operation, as well as prioritizing other future development opportunities at Yanacocha ahead of any future re-evaluation of the Yanacocha Sulfides development project, among other considerations.” 10-K for 2025
| Fiscal year ended | Restructuring charges |
|---|---|
| 2016-12-31 | $32 million |
| 2017-12-31 | $14 million |
| 2018-12-31 | $10 million |
| 2019-12-31 | $7 million |
| 2020-12-31 | $18 million |
| 2021-12-31 | $11 million |
| 2022-12-31 | $4 million |
| 2023-12-31 | $24 million |
| 2024-12-31 | $38 million |
| 2025-12-31 | $186 million |
Newmont has filed no restructuring notice (Form 8-K, Item 2.05) since 2016. Companies file one only for a cut they judge material, so many announced layoffs never appear as one. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Newmont’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-19. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.