Wednesday, February 19, 2003
Micron Technology announced plans to cut approximately 10 percent of its staff to battle the prolong sluggish of the technology market.
This is the first company wide layoffs in more than a decade. Micron was founded in 1978 and has become one of the largest memory makers in the world. In 1985, Micron cut its total staff in half while facing intense price competition from Japanese rivals.
Micron said the cut is meant to lower its costs while continuing to invest in next-generation 0.11-micron manufacturing technology, said the company. Micron has about 18,500 workers.
The company is still finalizing which positions will be cut, but it expects to notify workers within the next seven days, the company said. The majority of the company's employees, some 11,000, are based in Idaho.
"We remain committed to the long-term growth opportunities for our company and our industry" CEO Steve Appleton said in a statement. "These actions will lower our cost structure and allow us to better focus our product portfolio and continue to invest in new technology."
By: DocMemory
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