Newcrest to cut jobs: report

Struggling miner to cut unspecified number of jobs within a year.

Newcrest Mining Ltd will cut an unspecified number of workers at its remote Telfer mine in Western Australia as the gold miner continues to struggle, according to The Australian Financial Review.

The miner has reportedly held meetings with the mine's fly-in, fly-out workforce informing them cuts would come in the next six to 12 months.

“We've reached the stage now where all the employees are aware of the external environment and what that means for Telfer specifically,” a Newcrest spokesman told the AFR.

“We're going through the process of offering them redeployments, transfers and other options.

“We're still having those discussions so the actual numbers are still up in the air.”

Newcrest, which has been hit hard by falling gold prices, earlier cut 250 white-collar jobs in Brisbane and Melbourne, as well as 150 staff in Papua New Guinea (see our video What should investors do about Newcrest?).

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