Semiconductor maker Micron announces 10% staff reduction, suspends bonuses

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Semiconductor maker Micron announces 10% staff reduction, suspends bonuses
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Micron said that it would hit its reduction target through voluntary departures as well as layoffs.

Idaho-based Micron has about 48,000 employees, according to a recent SEC filing. The company said that it would hit its reduction target through voluntary departures as well as layoffs."On December 21, 2022, we announced a restructure plan in response to challenging industry conditions," the company said.

Micron is best known for supplying memory to computer makers, but it is facing an environment where PC sales have alreadyin prepared remarks "In the last several months, we have seen a dramatic drop in demand," Mehrotra said, according to the prepared remarks.

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