Statement from Micron Chairman and CEO Steve Appleton

micron
"This is a challenging time for Micron. The global markets that our products are sold into have experienced severe oversupply and price degradation. Micron is pursuing a number of initiatives to drive greater cost efficiencies and revenue growth across our operations. This is a process that we are working through, and it will take time.

As part of this process and in line with these initiatives, we’ve determined that some workforce reductions in certain areas of the company will occur as we realign the business. We have completed many of these workforce reductions, which account for less than 10 percent of our workforce in the Treasure Valley. In instances where employees are affected by workforce reductions, we are doing everything we can to help with the transition, including providing severance and outplacement services. Additional changes, including the evaluation of functions more efficiently performed through partnerships or other outside relationships, will come over time as we work through them. Workforce reductions are always difficult, but these initiatives are being pursued to support the longterm global viability and competitiveness of the company."