BOISE, Idaho — On December 21, 2022, Boise-based Micron Technology announced actions in response to the weakened market outlook for calendar 2023.
These actions include further cutting fiscal 2023 and fiscal 2024 capex versus prior plans, significantly reducing expenses through fiscal 2023, and suspending share buybacks.
At that time, Micron also confirmed it is reducing global headcount over the course of calendar 2023 through targeted workforce reductions and voluntary attrition.
"As a result of our effort to align programs, projects, timelines and roadmaps to market conditions, Micron now expects workforce reductions to approach 15% which includes expected attrition through the end of calendar 2023," says Tate Tran, Manager of Corporate Public Relations .
Some organizations and regions will see higher reductions than this company average, while others will be lower.
Micron also announced in December that it was cutting executive salaries and suspending fiscal 2023 bonuses companywide.
"Longer-term, Micron continues to see strong underlying secular demand across markets and is sustaining investment in critical technologies and products," said Tran.
