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,

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.

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