SanDisk implemented a series of cost-cutting moves, including cutting its global workforce by about 10 percent and reducing salaries for all executives.

SanDisk said it would reduce its work force by about 250 employees, with most of the cuts expected to occur early next month. The cuts will impact all areas of SanDisk's business and reflect a recent decision by the company to de-emphasize its USB private label business in favor of the more profitable SanDisk branded business, the company said.

Salary reductions include a 20 percent cut in base pay Eli Harari, SanDisk chairman and CEO, the company said. SanDisk's president and executive vice presidents will face 15 percent cuts in base pay, while other vice presidents will incur a 10 percent reduction, the company said