Newmont Mining Corp. has announced the layoffs of 56 employees in Nevada, citing lower gold prices and rising costs.
Newmont spokeswoman Mary Korpi said the move was made after a thorough review of how to keep the Denver-based company competitive in the current business climate.
The company preferred to reduce its workforce through attrition, she said, but the business challenges did not allow it the time or flexibility to solely rely on attrition for reducing labor costs. Newmont's attrition typically averages 10 percent annually.
Affected employees will receive severance packages and access to outplacement services to help them find other jobs.