Disclaimer: I feel bad for what's happening and what is still going to happen so I'm going to share some information that was intended to be kept undisclosed. For obvious reasons I won't however provide any information as to whom I may be or how I might know the following.
The first round of ISP went down yesterday. There will be two to three more rounds. This first round was director level lay off selections. The next round will be direct supervisor selections. The following will be follow up supervisor/manager selections when the first round dust settles.
Remember the lay offs are fiscally driven so it really can't be just contingent on numbers or %'s of people. Expect mostly E2-E3's and T2-T3's being gone in the first round (yesterday) and E1-E2's and T1-T2's being gone the next rounds. We are shooting for a dollar amount saved, the public announcement is 100 mil a quarter but the "real goal" is closer to 120 mil per quarter. Micron has a duty to the stockholders to meet or exceed those announcements or risk the stock dropping even further.
If you didn't read between the lines in the last team meeting and Durcan message, we are cutting several EM architectures. Translation: that means complete purges of those technologies and ALL the non lead members of those teams. Expect the "good old boys" members of those teams to be re-assigned to other areas.
This move is one of desperation to secure cash flow, do not mistake it for anything else. The situation is dire, aspects of the new fab have been brought to a halt and money taken from that project to cover operations. To be absolutely frank Micron may not make it through the next quarter without defaulting.