SanDisk which employs around 3,200 workers worldwide, is expected to cut 5 percent of its global staff.

SanDisk's first-quarter revenue increased 8 percent to $850 million compared to the same quarter a year before, and net income was $18 million, compared to a net loss of $600,000.

At the release of the Q1 figures, Eli Harari, the company's chairman and CEO, was quoted as saying "we are focused on cost controls and expense reductions and we continue to believe that the cumulative impact of price declines in recent quarters will accelerate the creation of new markets for flash storage."

By: DocMemory
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