Are layoffs over are more to come?
If you have more than 25yrs at micron and don’t get a 5 performance rating, how long before you’re lay go?
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I was at Micron for 9 months and let go....Didn't even get to collect any RSUs, not that Micron offered very much in the first place.
"Heard of very very few <2yrs at micron let go.
Trying to lure the brightest new grads by keeping new NCGs."
There were people <1yrs brought to "techless" Boise and let go.
Micron hires cr-ppy interns because they are dirt cheap.
Its management structure is too large and I am guessing sucks up a lot of money.
It is not an ideal workforce to do physics. They are following a similar path
to what Intel took and which loss a step.
Handy, You want to share what VPs and Directors were let go. Some probably few a M1s got cut, and maybe a M2. If a M3 was cut it it is likely that the entire team and/or product was ended.
Management is almost always safe.
What VPs and directors where let go?
I hear quite reliably that 25+ or high total comp vs impact
Performance has to be 5/5 to remain if you’re in these categories.
There have been VP and Director(s) let go.
Heard of very very few <2yrs at micron let go.
Trying to lure the brightest new grads by keeping new NCGs.
It’s tough though Intel vs Micron, duh!
They did not say any more RIF. Said the 10% involuntary is almost done and rest 5% via attrition till end of CY23.
Stock is up 7% , perhaps seeing the bottoming out of earnings. Looking forward to recovery here on. Go Generative AI. Go Micron !
20%!, wondering if this also includes the VPs and inner circle??? LOL, probably not.
The question is "When will the next layoff be?" not "Are layoffs over are more to come?". Every time Micron ends up doing layoffs, management claims it is necessity and a last resort, however they take no actions to prevent it from happing in the future. A disposable workforce is part of the business plan to deal with the volatility of the industry and a way of clearing out more expensive older workers.
There is absolutely an age component. Naturally the healthcare, salary and outstanding RSUs are likely tied to age as well. Strong performers wher let go. This includes people that were recently relocated for various reasons.
It’s not tied to performance. I’ve seen some low performers stay and 25+ stay. It’s been a mixed bag of good performers, varied time with the company. It’s pretty obvious there will be more cuts. How much is anyone’s guess but mark my words it will happen.
Yes. Total compensation including healthcare, salary and outstanding RSUs. The severance agreement protects them from getting challenged for discrimination and they don't abide by the code of conduct that should hold them accountable to all laws where they do buisness. It is indeed a 'New Micron'.
If not tied to perfmance, then is it tied to compensation and how much heath care costs were used? After all, Micron is self-insured and looking for ways to cut costs.
Hearing rumors of another 5%, targeting 20% now and not necessarily tied to performance ratings either.