The manufacturer lost 184 million in its first fiscal quarter with a 47% drop in sales
MADRID, 22 Dic. (EUROPA PRESS) -
Micron Technology will carry out a workforce reduction that will affect 10% of its around 48,000 employees as part of the restructuring of the microprocessor manufacturer's activity in response to "challenging conditions in the industry".
Under the restructuring plan, Micron expects to reduce its workforce by approximately 10% over the course of 2023, through a combination of voluntary redundancies and staff cuts.
In relation to the plan, the multinational expects to incur extraordinary charges of at least 30 million dollars (28 million euros) in the second quarter of its 2023 fiscal year, which runs between December 2022 and February 2023.
In the first three months of its fiscal year, Micron Technology recorded losses of 195 million dollars (184 million euros) compared to net profit of 2,306 million dollars (2,172 million euros), recorded in the same period of the previous fiscal year. .
Likewise, the multinational's turnover experienced a 46.8% drop in the quarter compared to the same period of the previous year, up to 4,085 million dollars (3,848 million euros).
Facing the second quarter of the year, Micron expects that its income will be around 3,800 million dollars (3,580 million euros) and that it will register diluted losses per share of about 0.79 dollars.
"Due to the significant supply-demand mismatch going into the year, we expect profitability to remain a challenge through 2023," Micron Chairman and CEO Sanjay Mehrotra said in a post-presentation conference call with analysts. of the company's results.
In this sense, he warned that the moment of profitability recovery will be determined by the rate at which supply and demand are balanced and inventories are normalized throughout the supply chain.