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Losses at Micron force efficiency drive and workforce reduction

29 June 2008 | By Mark Osborne | Recruitment News

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Micron Technology executives spoke of a highly competitive environment, especially in the DRAM and NAND flash markets, due to severe over-capacity in recent quarters that will result in some restructuring, efficiency drives and a workforce reduction.

The comments came during a conference call with analysts to discuss third quarter financial performance amidst losses of US$225 million as memory ASPs fell below production costs.

Steve Appleton, Micron's Chairman and CEO, declined to give specific details citing competitive issues but reiterated that workforce reductions in its rapidly expanding NAND flash operations would not be affected.