10:03 AM EDT, 08/27/2025 (MT Newswires) -- (Updates with Newmont's ( NEM ) statement in the third paragraph.)

Newmont ( NEM ) could cut its headcount by "thousands" as it aims to reduce costs, which have soared following its acquisition of Newcrest Mining in 2023, Bloomberg reported Wednesday, citing people familiar with the matter.

While the company has not finalized the number of job cuts, the intended target would require cutting its headcount by thousands, the report said.

"Moves to reshape our structure reflect one of several steps we are taking in 2025 to reduce our cost base and improve productivity," a spokesperson for Newmont ( NEM ) said in an emailed statement to MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 72.09, Change: -0.34, Percent Change: -0.47