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Micron Technologyone of the world’s leading DRAM and NAND manufacturers, has announced That will increase the scale of layoffs announced in late 2022. Back then the US company had announced that it would reduce the workforce by 10% during fiscal year 2023, but CEO Sanjay Mehrotra emailed employees that the cut will rise to 15%. It will therefore drop from around 48,000 employees to just over 40,000.
Like the other realities in the PC sector, Micron is dealing with the slowdown in sales compared to previous years, where the pandemic has sparked a rush to buy hi-tech devices to work and study from home. Furthermore, investments in the server field also seem to have slowed down.
To this situation must be added the high inventory levels in many sectors, i.e. there are inventories to be disposed of which prevent OEMs from proceeding with new semiconductor orders. CEO Sanjay Mehrotra said on the sidelines of the previous quarterly that there was too much memory supply and too little demand, so Micron would experience “difficult” quarters albeit with a progressive improvement during the fiscal year.
Micron, in the wake of the US Chips Act, announced plans last year to build two production plants: $15 billion in Boise, Idaho, where the company is headquartered and $20 billion in upstate New York in an initial phase, but with plans to scale to $100 billion overall over time of the next 20-25 years.
“Longer term, Micron continues to see strong underlying demand in all markets and supports investments in critical technologies and products,” a Micron spokesperson said in confirmation of the increase in layoffs. The layoff notices are expected to be distributed by the end of February.
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