Restructuring events
European Restructuring Monitor (ERM)
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.
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).
Eurofound (2022), Micron Technologies, Internal restructuring in World, factsheet number 108154, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108154.