Micron cuts 10% of work force

Feb. 19, 2003 – Boise, ID – Micron Technology Inc. has unveiled a series of cost-reduction initiatives, including a work force reduction of 10%.

The goal of the cost cutting is increasing the company’s focus on products utilizing its latest generation process technology and lowering costs and expenses.

To meet corporate goals the company plans the following actions:
– Increasing focus on products strategically aligned to utilize Micron’s process technology.
– Prioritizing Micron’s product portfolio to better emphasize those products with the greatest market opportunity.
– Aligning Micron’s cost structure with current market conditions.
– Reducing worldwide workforce levels by approximately 10%.

In commenting on the company’s cost reduction measures, Micron’s CEO and President Steve Appleton, said, “We remain committed to the long-term growth opportunities for our company and our industry. These actions will lower our cost structure, allow us to better focus our product portfolio, and continue to invest in new technology.”


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