Tuesday, December 11, 2012

Report: Micron Set to Slash Jobs At Israel Facility

Posted By on Tue, Dec 11, 2012 at 8:55 AM

Boise-based Micron is poised to lay off about a third of its workforce at its Israel-based flash memory manufacturing plant, according to local news reports.

The Calcalist newspaper reports that the layoffs, which could hit about 500 of the 1,300 people employed at the Kiryat Gat, Israel, facility, are expected in 2013.

The Calcalist reports that the layoffs could be "the latest in a wave of job cuts in Israel's electronics industry since October."

Micron acquired the Kiryat Gat facility in 2010 to make flash memory wafers.

In September, Micron posted its fifth-straight quarterly loss, $243 million, or 24-cents per share. The quarterly loss raised the company's red ink in the last fiscal year (which ended in August) to $1.03 billion.

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