Basic Materials

Employment trends and layoff analytics for the Basic Materials industry.

1,003
Total Affected
Since Jan 2024
2
Layoff Events
Across all companies
2
Companies
With layoffs
502
Avg per Event
Employees affected
0
Confirmed
Company verified events
0
Multi-Source
Multiple source verification
0
Severance Data
With severance information

Layoffs Over Time

By Sector

Basic Materials
1,003

Most Common Reasons

Part of a broader effort to prioritize cost-savings and streamline operations amid a challenging economic environment.
1 event
Newmont Corporation is implementing a workforce restructuring and cost-reduction program, including job cuts, particularly at its Denver headquarters, as part of a broader effort to streamline operations and improve financial performance. This initiative is driven by rising operational costs and the need to integrate the $15 billion acquisition of Newcrest Mining Ltd in 2023. The Newcrest assets were identified as being in a challenging life-cycle stage, under-producing relative to their employee base, and requiring significant capital expenditure. The company aims to lower its all-in sustaining costs by approximately $300 per ounce (a 20% reduction) to align with lower-cost industry peers. This strategic move, occurring during a CEO transition, is intended to position Newmont as a 'stronger, simpler, and more resilient' company amidst a challenging economic environment and fluctuating gold prices.
1 event

Most Affected Departments

Executive positions
23
Department heads
23
Directors
23

Most Affected Locations

Denver
23
Colorado
23

Companies in Basic Materials

Eastman Chemical Company
980 employees affected · 1 event · Basic Materials
Newmont Corporation
23 employees affected · 1 event · Basic Materials

Recent Layoff Events

DateCompanyEmployeesReason
Nov 4, 2025
Eastman Chemical Company
980 (7.0%*)
Part of a broader effort to prioritize cost-savings and streamline operations amid a challenging economic environment.
Nov 4, 2025
Newmont Corporation
23 (0.1%)
Newmont Corporation is implementing a workforce restructuring and cost-reduction program, including job cuts, particularly at its Denver headquarters, as part of a broader effort to streamline operations and improve financial performance. This initiative is driven by rising operational costs and the need to integrate the $15 billion acquisition of Newcrest Mining Ltd in 2023. The Newcrest assets were identified as being in a challenging life-cycle stage, under-producing relative to their employee base, and requiring significant capital expenditure. The company aims to lower its all-in sustaining costs by approximately $300 per ounce (a 20% reduction) to align with lower-cost industry peers. This strategic move, occurring during a CEO transition, is intended to position Newmont as a 'stronger, simpler, and more resilient' company amidst a challenging economic environment and fluctuating gold prices.