American company Micron, the largest manufacturer of flash memory in the US, said that 10% of its employees will be laid off due to falling demand for computer chips. Agency reports Bloomberg.
It is reported that approximately 5 thousand employees from different departments of the company will lose their jobs in the coming years in an effort to reduce costs due to the risk of experiencing great losses. According to the agency’s data, as of September 1, 2022, 48,000 employees were working at Micron.
Micron also predicts a sharp drop in sales. The firm said that amid rising inflation and other economic challenges, shoppers are procrastinating on purchasing new PCs and laptops, as well as smartphones and other gadgets.
Micron CEO Sanjay Mehrotra said the industry is experiencing the worst imbalance between supply and demand in 13 years. “Profitability will be at risk throughout 2023 due to oversupply in the industry,” the senior executive said.
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