Micron To Slash 10% of its Workforce Next Year
Updated: Dec 23, 2022
Semiconductor producer Micron announced it will slash its workforce by around 10% in 2023, the latest sign of a slowdown in the technology industry's impact on employment.
A report on CNBC says that the company employs over 48,000 people and it would meet its reduction target through a combination of layoffs and voluntary departures. The company also announced that bonus payments for 2023 would be put on hold.
The business announced in an SEC filing that they plan to reorganise the company "in response to tough industry circumstances." According to the plan, th