BATTLE MOUNTAIN - Newmont announced it was laying off 56 salaried employees in Nevada, according to a press release from Manager of External Relations Rhonda Zuraff.
"We appreciate their service to the company and are treating them fairly and with respect," Zuraff said. "These employees will be receiving generous severance packages and the availability of outplacement services to navigate this difficult transition."
Newmont's corporate office and all operating regions around the world, including Nevada, have been carefully evaluating their respective operating models to determine how to keep the company competitive in an increasingly challenging marketplace with escalating costs and a lower gold price, according to the press release.
A comprehensive review of Newmont's 2014 Business Plan was conducted in Nevada in an effort to maintain a strong financial and operating position by focusing Newmont's business strategy on value over volume, cost management, and continuous improvement to secure the gold franchise. According to the press release, many people were involved in reviewing business plans and evaluating alternatives prior to the decision making stage.
Throughout 2013, Newmont has carefully analyzed all job vacancies and managed hourly reduction through attrition (which typically averages 10 percent annually), the news release said. The company recognizes, however, that the current economic climate driving business does not afford time or flexibility to rely solely on attrition for reducing labor-related costs.
"The changes are difficult but necessary for us to run our business more efficiently and more effectively amid the growing challenges of the present economic environment," Zuraff said.
The 20 Winnemucca employees laid off were both salaried exempt and salaried non-exempt from operations and support groups. No hourly employees were affected by the lay-offs.
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