Boise-based Micron Technology (MU) is cutting about 15 percent of its work force around the world as part of a restructuring of its computer-memory operations
BOISE, Idaho — Micron Technology is cutting about 15 percent of its work force around the world as part of a restructuring of its computer-memory operations.
The bulk of the jobs will be cut from Micron’s operations at its headquarters in Boise.
A company statement said today that the cuts were a result of declining customer demand and product oversupply, which has driven the selling price for Nand flash memory below manufacturing costs. Nand chips store information in digital cameras and MP3 players.
Micron’s stock was up 20 cents, or 5.3 percent, at $4.07 in midday New York trading.
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