Micron Technology Inc. will be laying off 10% of its personnel in 2023, an SEC filing revealed on Wednesday.
"On December 21, 2022, we announced a restructure plan in response to challenging industry conditions," the company stressed, adding that it will also be suspending bonuses in the following year. As per another recent SEC filing, Micron currently has around 48,000 employees.
Micron explained that the plan will most likely lead to "charges of at least $30 million in the second quarter of fiscal 2023, substantially all in cash expenditures."
