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Micron Tech Cutting 15 Percent Of Its Workforce

Company to cut its global workforce as part of a restructuring of its memory operations due to declining customer demand and product oversupply.

BOISE, Idaho (AP) -- Micron Technology announced Thursday morning that it would cut about 15 percent of its work force around the globe as part of a restructuring of its memory operations.

The bulk of the jobs will be cut from Boise.

A company statement said the cuts were a result of declining customer demand and product oversupply, which has driven the selling price for NAND flash memory below manufacturing costs. Micron will be shutting down the NAND flash memory facility in Boise.

The job cuts will take place over the next two years, starting with a voluntary program. Micron officials say the company will provide severance and outplacement services.

Micron is one of the state's largest employers.

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