Feeds

Micron gets aggressive with costs, workforce

1,800 jobs

  • alert
  • submit to reddit

The pips are getting squeaked at Micron which today proclaimed its intention to fire 10 per cent of its workforce - 1,800 jobs worldwide.

The hard-pressed US DRAM maker says this is one of a "series of cost-reduction initiatives to further capitalize on the Company's aggressive migration to .11 micron manufacturing process technology".

Using the word "aggressive" in connection with lay-offs strikes us somewhat unfortunate.

Micron is to concentrate on making newer, leading-edge, profitable stuff in future.

Last month, the company set in train a $500m bond issue, designed to pay for new manufacturing technology. Up to $80m of the funds are to be set aside for "call spread options", enabling the firm to limit stock dilution by buying its own shares at fixed price. This looked and still looks like a bloody expensive way to build a factory.

Micron's press release is here. ®

Related story

Micron calls on market for $500m

Whitepapers

Driving business with continuous operational intelligence
Introducing an innovative approach offered by ExtraHop for producing continuous operational intelligence.
The total economic impact of Druva inSync
Examining the ROI enterprises may realize by implementing inSync, as they look to improve backup and recovery of endpoint data in a cost-effective manner.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Simplify SSL certificate management across the enterprise
Simple steps to take control of SSL across the enterprise, and recommendations for a management platform for full visibility and single-point of control for these Certificates.