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DENVER—Denver-based Newmont Mining Corp. says it plans to cut its Colorado workforce by 33 percent over the next 90 days.
The Denver Post reports ( ) Newmont employs about 800 people in the state. Overall, Newmont reports having about 40,000 employees and contractors.
The gold company said Wednesday the cuts reflect its work to streamline its operating model and shift more accountability for production and profitability to its operational teams, while the corporate team focuses on strategy and governance.
CEO Gary Goldberg said in a written statement that volatile prices and rising costs have created intense pressure for Newmont to continue improving its efficiency.
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Information from: The Denver Post,
