Micron to cut 10% of its workforce

[MongiIG]

Earnings out from Micron Technologies was accompanied by a cost cutting plan that will see the data storage and computer chip maker shed two percent of its employees.

It fell 1.5% in extended trade as it posted an adjusted loss of 4 cents per share in its fiscal first quarter, on revenue of $4.09Bln. Both lines missed expectations as analysts anticipated a loss of 1 cent per share and revenue of $4.15Bln. Guidance was also cut.

 

 

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