Thursday, June 28, 2007

Micron Reports $225 Million Loss, Job Cuts Expected

Posted By on Thu, Jun 28, 2007 at 4:00 AM

Boise-based Micron Technology is reporting a $225 million loss for the company's third quarter. The loss comes in the face of dropping prices for computer memory chips due to a glut of products on the market.

Due to this Micron CEO Steve Appleton said some job cuts are on the way, although no specific numbers were mentioned.The loss calculates to roughly $.29 cents per share. Sales fell by 1.4 percent to $1.29 billion.

This is the second quarter in a row the company has reported a loss.

What this means for Treasure Valley jobs has yet to be seen.

More updates to come.

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