Micron to Lay off as Many as 2,000 in Boise
Micron Technology will lay off as many as 2,000 additional people as demand for DRAM products continues to decline.
Micron plans to phase out 200-millimeter wafer manufacturing operations at its Boise, Idaho, facility. That will initially result in layoffs of 500 employees, but as many as 2,000 people could lose their jobs by the end of Micron's fiscal year, the company said.
In a statement, Micron Chairman and CEO Steve Appleton said that he had hoped that demand for 200mm speciality DRAM products would have stabilized and started to improve, but that hasn't happened.
The layoffs are in addition to cuts to 15 percent of Micron's global workforce, announced in October.
The company will continue to operate its 300mm research and development fab facility and do work including product design, quality assurance and system integration in Boise.
Micron expects to take a cash restructuring charge of about US$50 million and realize a gross annualized operating cash benefit of $150 million.