Monday, July 2, 2007
Following a huge loss and a memory downturn, Micron Technology Inc. has cut its capital spending for fiscal 2008.
Steve Appleton, chairman and chief executive of Micron, also announced that the company would implement a headcount reduction. Micron is projected to have ''lower levels of employment,'' he said during a conference call. The call followed Micron's weak third-quarter results.
Rumors about a layoff have been circulating around Micron for weeks. During the call, the company did not give specifics.
On another front, Micron (Boise, Ida.) is projected to spend $2.5 billion in fiscal 2008, down from $4 billion in 2007, according to the company in the conference call.
Some $2 billion is geared for 300-mm projects, including IM Flash Technologies LLC, a joint NAND venture between Micron and Intel Corp..
There is bad news for Micron's DRAM business. While NAND and CMOS image sensors have improved, DRAM is tracking down by 25 percent in the current quarter, according to SG Cowen Securities Corp.
By: DocMemory
Copyright © 2023 CST, Inc. All Rights Reserved
|
