Micron raised the proportion of layoffs from 10% to 15%, laying off about 7200 employees worldwide.

Thanks to CTOnews.com netizen Mr. Air, soft media Xinyou 1984342 for the clue delivery! CTOnews.com, February 17 (Xinhua)-- Micron Technologies, based in Boysie, USA, will lay off 15% of its workforce instead of the initial estimate of 10%, and about 7200 employees will be laid off.

Weak demand for its semiconductor chip products prompted Micron to announce layoffs for the first time in December. "as we strive to adjust our plans, projects, timetables and roadmaps to market conditions, Micron now expects layoffs to be close to 15 per cent, including expected reductions by the end of 2023," said Erica Rodriguez Pompen, a spokesman for Micron.

Micron is also cutting executive salaries and will not pay bonuses until the end of the current fiscal year, Rodriguez Pompen said. Boise State Public Radio said sources said Micron had suspended bonuses and could resume in November.

The 15 per cent cut will affect Micron's about 7200 employees worldwide, and it is unclear how or where the layoffs will be made. Earlier, Micron Taiwan said it would cut 150 jobs, accounting for about 5% of the company's workforce.

CTOnews.com learned that Micron CEO Sanjay Merotra (Sanjay Mehrotra) had previously said that there was too much supply and insufficient demand for semiconductors. The company has so much inventory that it has lost its pricing power.