Micron to cut 10% of workforce as demand slumps

Mehrotra: The industry is experiencing its worst imbalance between supply and demand in 13 years. — AFP

SAN FRANCISCO: Micron Technology Inc, the largest United States maker of memory chips, has given a lackluster revenue outlook for the current period, indicating the slump in demand for computer components will drag on, and says it will reduce its workforce by about 10% over the next year.

Sales will be about US$3.8bil (RM16.8bil) in the fiscal second quarter, Micron said in a statement.