Micron Responds to Layoff Rumors: Workforce Reduction Is a Difficult Decision
Memory chip giant Micron had announced two consecutive layoffs late last year and earlier this month that will eventually affect 15% of its workforce, or 7,200 employees.
Today, Micron released a statement explaining the workforce reduction plan, emphasizing the provision of a severance package that is better than current regulations, with the agreement of both labor and management.
In the statement, Micron said the weak market environment has severely impacted the domestic industry, requiring Micron to take steps to reduce supply and control costs. "In order to maintain the company's robust physical and financial performance, workforce rationalization is a difficult but unavoidable decision."
In terms of practical implementation, Micron said it values and cares about its team members, appreciates the contributions of all employees to Micron, and is doing everything it can to help those affected by this workforce reduction.
To date, Micron has completed discussions with some of its employees, and those affected have voluntarily left the company after participating in the discussions, which were conducted in a respectful manner that was sensitive to the employees' feelings and in compliance with local laws.
Micron emphasizes that, with the agreement of both parties, Micron is offering a separation plan that is better than current regulations and is committed to assisting the employees in their transition.
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