Hi, I assembled a detailed overview of Micron layoffs for those who care to alleviate any concerns. Some info here is unconfirmed by myself. The Announcement: Micron finally did their layoff after first announcing in December 2022 with their Q1 results – 47% year over year loss (yes, Q1, not a mistake – weird ass calendar). Announced RIF was 10% with 5% through natural attrition throughout 2023 (total of about 5000 people). How it went down: Layoffs began early last week and will continue till end of this week in the US (confirmed – do not know how it goes down in other countries). Entire teams were gutted in some countries including the US (confirmed). Most layoffs were done 1:1 and walked out of the building with a box of their stuff (confirmed), some were done with entire teams together in one room with HR person (confirmed) and some via emails (unconfirmed). Access was cut off within an hour after leaving site (confirmed). Who got cut: Everyone and their grandmother. No team was fully safe according to internal chatter (unconfirmed). Most or all low performance individuals, NCGs/ new hires trending towards low performance in the few months they were there, directors and managers in products that are no longer in the future were cut (confirmed). NCGs/ new hires, whose teams were gutted, with ok performance may be put in other teams (unconfirmed). Entire teams in China were cut (unconfirmed but expected given Biden’s chip restrictions). No one type of engineer (process, equipment, software, etc...) was safe (confirmed). Who made the decisions: VPs with input from directors and managers as necessary (confirmed). For more critical tech, managers were all kept, and they were asked who to cut (unconfirmed). Severance: 60 days + 1 week per year of service in the US (unconfirmed) for those who were laid off. Rumor is some people were straight up fired for low performance so no severance (unconfirmed). Unknown if people on VISA are kept on payroll for the 60 days or check was just cut. Where we at: Layoffs are above the 5% mark but still under 10% which means natural attrition is not working well (unconfirmed rumors). Q2 all hands (next month-ish) will have more information – personal expectation is more cuts right before end of Q3. Market outlook is not good for DRAM and NAND so expect more cuts – there is optimism it will start normalizing starting Q3. Micron is still hiring and expanding in Boise and New York in the long term mostly funded by tax breaks and chips act. Intern offers are being honored and NCGs who were hired before downturn are still being bought in. Conclusion: F-ck Sanjay and his board TC: 100K (for now...) #severance #layoff
Lol 😂
What is NCGs?
New college grads.
Nice summary. If I could, I'd give you a Bravo for it
Nice summary. Much more information than micronnow 😂. I also believe there will be another cut at the end of this year. From what I heard.
Doesn’t make sense to make decisions to cut in Dec when we are only at Feb. if they do another one it is likely within a few months so they can cut opex as soon as possible.
Agreed. That is why I said Q3 personally since that will be before June. Q2 is ending next month so they might just call it good for now.
Entire teams in China were cut (unconfirmed but expected given Biden’s chip restrictions) This is confirmed.
Good to know
Entire teams in Singapore cut. (Confirmed)
Thanks for the info!
Which team?
This all aligns with what I know as a US based manager. To add, we were notified 1 week prior and only if we had a direct to notify, all other M2 and M1 left in the dark and with no input. We found out a day or two before hand who the direct was. Also, we have been speculating that the selection was based on $$ budget, not directly based on headcount, as there were some big surprises that were not the lowest performers + higher tenure
So it wasn't based on Money correct? Mostly low performers is what I got at least for important tech
You won't get 10% with just low performers
Seems it is more than 10% if we add attrition than it is more than 20%. That too just six month before we were getting scold from higher ups that why don’t you guys hire faster.
We didn’t lose 10k ppl…check workday in a month when it fully reflects the layoffs. Probably is around 45k.
It may be not overall 20% but individual teams are not only restricted to 5%. Some teams I could count definitely more tha 10% without attrition.
2 among 30 Impacted in my team
Micron sus
Amongus