Micron begins layoffs and pay cuts

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Micron CEO Sanjay Mehrotra announced last year that a restructuring plan will be undertaken in response to a challenging industry environment. Micron will reduce its workforce by approximately 10% in 2023 through a combination of voluntary layoffs and layoffs, as well as by reducing external hiring. The number of Micron’s global employees is about 49,000, which means that nearly 5,000 people are affected.

Due to the continued downturn in the global economy, PC sales have slowed or even shrunk, making the memory market cold, and Micron has also accelerated the pace of layoffs recently. According to Idahostatesman, Micron’s layoffs began at the fab in Boise, Idaho, USA, although it was just announced last year that it will build a new memory chip manufacturing plant. Boise, Idaho is also home to Micron’s headquarters, with about 6,000 employees, and layoffs are expected to be completed by the end of this month.

In addition to layoffs, Micron also reduced the salaries of executives in a large area. According to the data, CEO Sanjay Mehrotra’s salary will be reduced by 20%, the executive vice president’s salary will be reduced by 15%, the senior vice president’s salary will be reduced by 10%, and bonuses for top executives on the list will also be suspended, and the remuneration of non-employee members of the board of directors will also be reduced by 20%.

Micron has also recently started layoffs in Taiwan, China, which has Micron’s largest DRAM production base, with a total of about 11,000 employees. It is said that Micron laid off employees without warning this time, and left immediately after the notification. It is estimated that about 1,000 employees will be affected by the end of February.

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