Thread regarding Micron Technology Inc. layoffs

Market salutes it! Oh wait, What's that? That was only for 1 day? and now the stock is down 12% since that day? What an id--t. Most people don't join a company to see how high they can make the stock go up. Running a company with the intention of making the stock go up is a backward way of doing business. If you pay well and make the company a very desirable place to work, you will attract the top talent that will value their job and naturally the gain in business and profit will come to fruition. Micron has lost it's way. They will soon find out that conducting business for the purpose of capital gains will cause extensive losses and eventually we will see the stock below $10. I'm guessing in about a year. We'll see.

I think their bonuses are based off the fiscal year results and I would expect their next quarter report will show a similar loss as well.

"Operating cash flow of $343 million versus $943 million for the prior quarter and $3.63 billion for the same period last year"

During the good years like "$3.63 billion for the same period last year" what were the bonuses and raises like?

I don't have understand what going through the minds of people when they want to see Micron fail. Micron leadership and its board of directors are doing exactly what they are expected to be doing during the downturn, protect the longevity of the business. To sit back and do nothing would be a catastrophic failure by their leaders.

I don’t want Micron to fail. I hope to sell our house when Micron launches that big a-s fab in Boise.
There is hope, the word among the vendors that tooling that new fab is in the business plans.

Just reading through this I am amazed at some of your responses to each other. What a sad, sad world we live in when humans want to see the company fail. The world would be a much better place if some of the negative energy is reversed to look for the positive. I pray each and everyone of you seek what is missing from your life and seek what is good in the eorld world we live in. No one is out to get you, but sometimes the evil is actually looking at you in the mirror. Please use this as an opportunity to grow and move forward with love and kindness - the world will become a greater place.

Wow they really kept some awful people at the helm. I heard those are the ones who are instrumental in getting the dirty work done although it sounds like some good people still remain while others got let go.

Sour grapes huh. I wonder why anyone would have a reason to be sour. Let me think..... Greater workload, no bonuses, no raises, friends are gone, bosses are angry, possibly more layoffs, inflation, ...what else...
OH YEA, the arsholes in charge feel NONE of the pain they are inflicting to the people who keep this place running. Maybe they can't buy their third car or the second boat they wanted. So yes, I wonder why the sour grapes.

I agree that sour grapes seem to prevail amongst a select fee, I guess this is the new society we all live in. Perhaps it's millennials who want everything spoon fed to them.

@1etw+1lSfEPRv get back to work, April

Lots of sour grapes posting here, I bet they are fun to party with...not! It's always doom and gloom in their dark world, sad really.

They steered us straight into the worst quarter in company history but our fearless executives have repented by taking a 20% salary cut :^)
How many millions in stock options shall the board award our wise leaders this year? Those seized Russian oligarch yachts will be up for auction soon and it is all of our responsibility to make sure Sanjay can purchase one.

I wonder how fun it will be to work there now with double the expectations and 80% workforce. I guess it's not my problem though since they just let me go. Samsung pays better anyway. Thanks Micron and go F*CK yourself.

Well, it sure would have been nice to have an extra 10 billion in the bank instead of stock buybacks. Probably wouldn't have had to lay off anyone. I guess the stock price is all that matters. It's the only thing that fills Sanjays belly. He is our supreme leader, in Sanjay we trust. Come on everybody. Say it with me.
Goooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo SANJAY!!!

So will layoff happen in next 2 quarters?

Amen!

Goooooooooo MICRON!!!!!

Market salutes it! Stock 7% up today. Seems to agree with the bottoming out of revenue.
Look forward to recovery in earnings here on.
Let’s make a positive difference.
We are tougher than the rest.
If potential GPU sales can give a company 45X P/E ratio;
GDDR6, high speed interconnect investments can give much more than our present P/E
We are in Good Hands.
Strong Balance Sheet.
One hand by everyone can move oceans, let’s weather this storm, together by coming out of it stronger together. Nearly there!
Go Generative AI !
Go Micron !

Wow! With the hard brake on revenue in Q2 you can clearly see why Micron leadership were faced with the difficult decision to cut spending and reduce workforce.