SAN FRANCISCO, Dec. 21 (Xinhua) -- Micron Technology, one of the largest chipmakers in the world, said on Wednesday that the company will cut its workforce by 10 percent in 2023, reporting a fiscal first-quater loss and foreseeing more headwinds across the semiconductor industry.
"Over the course of calendar year 2023, we are reducing our headcount by approximately 10 percent through combination of voluntary attrition and personnel reductions," the company said in a statement.
Based on its employee numbers, Micron would be cutting nearly 5,000 workers in 2023.
"Experiencing the most severe imbalance between supply and demand in both DRAM and NAND in the last 13 years," the company is "taking decisive actions to cut our supply and expenses," Micron CEO Sanjay Mehrotra said in the statement.
The memory chipmaker reported a fiscal first-quarter loss of 4 cents a share on revenue of 4.1 billion U.S. dollars, which is down 39 percent sequentially and down 47 percent year on year.
For its fiscal second quarter, the company expects to lose between 52 cents and 72 cents a share.
Micron said that demand trends for memory might gradually improve "as customer inventory levels improve further, new CPU platforms are launched, and China's demand starts to grow" over the next few months.
Still, "industry profitability will remain challenged" throughout 2023, it added. ■
