Friday, June 29, 2007

Micron To Cut Staff

Boise, Idaho-based Micro Technology said Thursday that it is looking at job cuts as it looks to move its production closer to its global customers in Asia. Micron announced Q3 results Thursday, saying it had a net loss of $255M on net sales of $1.3B. To stem the loss, the firm said it is pursuing a number of initiatives to cut costs, including developing locations closer to its customers, looking at functions that might be better performed by partners or contractors, and reducing the firm's overhead costs. Size of the cuts were not given.