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Micron To Cut Flash Production, Jobs

10/09/2008 01:42:00 PM Eastern

Boise, Idaho — Micron said today it would discontinue flash-memory manufacturing at its plant, here, and slash its global workforce by 15 percent over the next two years.

Micron manufactures NAND flash memory in Boise through a joint venture with Intel.

“The combination of declining customer demand and product oversupply in the marketplace has driven selling prices for NAND flash memory significantly below manufacturing costs,” the company said in a statement announcing the move.

Micron owns Lexar Media.