Micron

Semiconductor maker Micron announced it would reduce its headcount by about 10% in 2023, in the latest example of a technology industry slowdown affecting ...

[Intel](/quotes/INTC/) announced that it [would lay off workers](https://www.cnbc.com/2022/10/27/intel-intc-earnings-q3-2022.html) as part of a plan to cut $10 billion in spending. Micron said it expected a loss of 62 cents per share on revenue of $3.8 billion in the current quarter. Micron said it has suspended share repurchases. [Nvidia](/quotes/NVDA/) announced a [hiring slowdown](https://www.cnbc.com/2022/08/24/nvidia-reports-slowing-growth-after-earlier-warning.html) over the summer, and [Qualcomm](/quotes/QCOM/) [announced](https://www.cnbc.com/2022/11/02/qualcomm-qcom-earnings-q4-2022.html) its hiring freeze in November. [Tech companies including](https://www.cnbc.com/2022/11/09/tech-layoffs-2022.html) [Meta](/quotes/META/), Twitter, [Snap](/quotes/SNAP/), Stripe and [Tesla](/quotes/TSLA/) have also cut staff as companies gird for a potential recession and higher interest rates. [fiscal first-quarter 2023 results](https://investors.micron.com/news-releases/news-release-details/micron-technology-inc-reports-results-first-quarter-fiscal-2023) where it missed analyst estimates for earnings and revenue, and forecast a larger loss per share than expected in the current quarter. [Micron](/quotes/MU/) announced Wednesday that it would reduce its headcount by about 10% in 2023, in the latest example of a technology industry slowdown affecting employment. Micron said it expected a $30 million charge in the current quarter related to the restructuring, which will also include less investment into manufacturing capacity and cost-cutting programs. - Semiconductor maker Micron announced it would reduce its headcount by about 10% in 2023, in the latest example of a technology industry slowdown affecting employment. Micron also said it is suspending 2023 bonuses. "On December 21, 2022, we announced a restructure plan in response to challenging industry conditions," the company said - Micron also said it is suspending 2023 bonuses.

Chipmaker Micron Technology Inc on Wednesday forecast a much steeper-than-expected second-quarter loss and said it will lay off 10% of its workforce next ...

It had a net loss of $195 million, or 18 cents per share, compared with a profit of $2.31 billion, or $2.04 per share, a year earlier. "The message overall is very much status quo," said Matthew Bryson, analyst at Wedbush Securities. The situation was a quick U-turn from chip shortages last year that hit everything from laptops to car makers. It invested $12 billion in fiscal 2022. Micron, reporting earnings on Wednesday, forecast second-quarter revenue of $3.8 billion, plus or minus $200 million, above Wall Street estimates. Micron had about 48,000 employees worldwide as of September 1.

NEW YORK: Chipmaker Micron on Wednesday (Dec 21) forecast a much steeper-than-expected second-quarter loss and said it will lay off 10 per cent of its ...

Revenue for the first quarter ended Nov 30 fell about 47 per cent year on year to US$4.09 billion. "The message overall is very much status quo," said Matthew Bryson, analyst at Wedbush Securities. It was not clear what its previous 2024 investment plans were. It invested US$12 billion in fiscal 2022. Micron, reporting earnings on Wednesday, forecast second-quarter revenue of US$3.8 billion, plus or minus US$200 million, above Wall Street estimates. Replying to CNA queries, a spokesperson from Micron said that the workforce reduction will vary by country, without specifying any figures.

As at October last year, Micron employed about 8600 people in Singapore, where some of its most advanced chips are made. Read more at straitstimes.com.

The company is slowing the introduction of more advanced manufacturing techniques and predicts that spending on new production will fall throughout the industry. Micron said sales will be about US$3.8 billion in the fiscal second quarter. In the three months ended Dec 1, Micron’s sales sank 47 per cent to US$4.09 billion. The rate and pace of the recovery in terms of profitability will depend “on how fast supply is brought into line”. The industry is experiencing its worst imbalance between supply and demand in 13 years, Micron chief executive officer Sanjay Mehrotra said on Wednesday. Micron also projected a steep sales decline and a wider loss than analysts had estimated for the current quarter.

NEW YORK/SINGAPORE: Chipmaker Micron on Wednesday (Dec 21) forecast a much steeper-than-expected second-quarter loss and said it will lay off 10 per cent of ...

Revenue for the first quarter ended Nov 30 fell about 47 per cent year on year to US$4.09 billion. "The message overall is very much status quo," said Matthew Bryson, analyst at Wedbush Securities. It was not clear what its previous 2024 investment plans were. It invested US$12 billion in fiscal 2022. Micron, reporting earnings on Wednesday, forecast second-quarter revenue of US$3.8 billion, plus or minus US$200 million, above Wall Street estimates. Replying to CNA queries, a spokesperson from Micron said that the workforce reduction will vary by country, without specifying any figures.

Elevated inventories after strong demand during the pandemic are hurting chip makers now. Dreamstime. Chip stocks were down falling Thursday after Micron ...

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