Feeds

Micron to cut 2,850 jobs, slash NAND flash biz

Hard Times Come Again No More

Business security measures using SSL

Micron Technology, the largest memory maker in the US, plans to lay off 15 per cent of its workforce and halt production of NAND flash chips at its Boise, Idaho headquarters.

The company had a rough year in fiscal 2008, posting a net loss of $1.6bn as market overproduction of NAND flash, falling prices, and reduced corporate spending wreaked havoc with its bottom line.

About 2,850 jobs will be cut from Micron's approximately 19,000 workers during the next two years, the company said today.

IM Flash Technologies (IMFT), a joint venture between Micron and Intel, will also discontinue he supply of NAND flash memory from Micron's Boise plant. The shutdown is expected to reduce IMFT flash production by about 35,000 wafers per month.

"Micron is in a strong position relative to our competitors, as evidenced by our balance sheet and cash flow, but we are not immune to the difficult global market conditions that are affecting us all," said Micron CEO Steve Appleton. "Operation shutdowns and related workforce reductions are always painful, but we are pursuing these actions to maintain the competitiveness of the company."

Micron said the majority of layoffs will begin with a voluntary program at its Boise facility. The company added that it's "committed" to providing severance and outplacement services to those affected.

Micron expects the restructuring to cost the memory maker approximately $60m, resulting in next year's cash operating margin to exceed $175m.

Earlier this month, Micron said its senior executives took a 20 per cent pay cut as a result of its poor 2008 fiscal year. ®

Reducing the cost and complexity of web vulnerability management

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Protecting users from Firesheep and other Sidejacking attacks with SSL
Discussing the vulnerabilities inherent in Wi-Fi networks, and how using TLS/SSL for your entire site will assure security.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.