The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26 - Manufacture of computer, electronic and optical products
4,800 jobs Number of planned job losses
Announcement Date
21 December 2022
Employment effect (start)
21 December 2023
Foreseen end date
Description
US-based semiconductor manufacturer Micron Technologies has announced it plans to cut 4800 (10%) jobs from it's global workforce. CEO Sanjay Mehrotra has stated the reason behind the planned job cuts is high inflation, rising interest rates, geopolitical tensions and COVID-19 lockdowns in China. In particular, the negative impact on demand in the PC and smartphone market has had a downstream impact on the semiconductor manufacturer.
Micron Technologies has offices in America, Asia and the UK, as well in Belgium, Germany and Italy.
A previous restructuring event in the ERM Events database has been recorded when in 2015, Micron Technologies announced 151 redundancies in its Italian plant (Micron-2015-IT).
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
