Gold miner Newmont let go of nearly a dozen managers, including a member of its executive team, as part of a corporate overhaul, Bloomberg News reported on Monday, citing people familiar with the matter.

The cuts are in addition to the previously reported reduction of at least 10 senior managers and an executive.

Newmont (NYSE:NEM) has cut nearly a dozen managers, including a member of its executive team, as part of a corporate overhaul, and the miner also told employees it plans to merge several business units in an effort to streamline its reporting structure,

This move is part of Newmont's strategy to streamline operations following its acquisition of Newcrest Mining.

The world’s top gold mining company initiated plans to dismiss one executive and at least 10 senior managers, Bloomberg sources said.