SanDisk Restructures to Reduce Costs

(February 20, 2007) MILPITAS, CA &#151 SanDisk Corporation will reduce its workforce and cut salaries for executives, among other measures, to respond to an “aggressive” pricing cycle in Q’01 2007, announced Eli Harari, chairman and CEO. The industry-wide NAND component price deterioration, 50% over the past two months, stems from seasonally weak demand in Q’01 and an excess supply. SanDisk states that these factors impacted retail and OEM pricing more than anticipated, leading to the cost-reduction steps in product and operating expenses, as well as refocusing and streamlining the organization.


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