Micron Technology: Leveraged Buyout Announcement Seems Imminent

There are 20 comments on the Jun 12, 2007, Seeking Alpha story titled Micron Technology: Leveraged Buyout Announcement Seems Imminent. In it, Seeking Alpha reports that:

Posted on Jun 12th, 2007 with stocks: MU Greg Wilder submits: In January 2007 we wrote an article titled " Micron Technology: Takeover Target For Private Equity? " Now, five months later, we analyze further ... via Seeking Alpha

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Insider2

Boise, ID

#41 Jun 28, 2007
No Test as in the TEST department. Electrical, Post-Electrical and possibly Burn-In.

Haven't really heard anything about the fabs, although I'm sure they will have some cuts.
Nampa

Duncan, OK

#42 Jun 28, 2007
This is great. Our company doesn't give us the common courtesy to let us know that we will be laid off... we have to find it out on KTVB?
My family wants to stay in the valley. We have family here. We have known nothing else and given it all to Micron. Where are we all going to go? We haven't had a pay raise in forever and stock options aren't even worth a hamburger.
We are living from paycheck to paycheck. After all we've given to Micron this last decade+... where will we all end up?
Rational

Boise, ID

#43 Jun 28, 2007
They should move the assembly and test to China long time ago. Most companies have already done so. It will definitely save money. Micron will never have lower cost than other Aisan companies if they keep the test/assembly in U.S.! Now, U.S. engineers can go to China working for less than $1000 per month!
Insider2 wrote:
http://www.ktvb.com/news/local news/stories/ktvbn-jun2807-mic ron.230375ef.html
WOW... What a way to learn you're going to be laid off. By the news...
Guess I should go get my "pink slip" now that I "know."
I heard they're outsourcing assembly and moving test to china.
Some of the things that go on in this country are completely unbelieveable.
Problems

Abingdon, MD

#44 Jun 28, 2007
AHHHHHHHHHHHHHHHHHHHHHHHHHHHHH HHHHHHHH!!!!!!!!!Steve sent out the dreaded email..........he said there would be no buy out etc etc etc but he did not deny that there would be layoffs. In fact he pretty much said that there would be more people laid off this time than in 2003.
Micron Layoff Timing

United States

#45 Jun 28, 2007
I think Micron was waiting for the industry cycle to get in the red before making a move like this, so they had a reason to shift operations overseas. I mean, they already have production facilities operational in China. Plus many of the lines had already been transitioned to Singapore. They knew the day would come. But why didn't they give the employees a little more heads up, training, something of value to ensure their well being?
Easy, it is a large internaitonal corporate entity that doesn't give two sh*ts about those working for it. It has continually threatened the creation of unions with dismissal, has been given huge tax breaks in Idaho, and has really been neglecting its employees for years. Maybe those employees with shares it the company should raise some hell with the board.
justme

Boise, ID

#46 Jun 28, 2007
I was involved in the last lay off. Well, my husband and I both were. Nobody knew for sure that the rumors were true until managers started coming in at 5 am and caling people in. That was the worst day of my life. I had worked at micron for over 8 years. Worked my way from operator to technician, and I do mean worked...sometimes 6 days a week, 12 hours a day. I hope that nobody else goes through what my husband and I have gone through in the last three years. We have lost everything, even eachother for a while. Micron management doesnt realize what lay offs do to most families, nor do they care.
this sucks

Fredericksburg, VA

#47 Jun 28, 2007
it's irony. A year ago mass hiring, now a mass layoff... when jobs go overseas they do not come back
baffled

Boise, ID

#48 Jun 28, 2007
Why announce layoffs but not give a number? This still leaves everyone uneasy.
Rational

Boise, ID

#49 Jun 28, 2007
I bet the layoff will happen very soon, perhaps tomorrow morning to minimize the damage. The layoff list is already there and it will be execute in the morning. The lucky one will be called into the room and get thank you letter!
MTV

Abingdon, MD

#50 Jun 28, 2007
Micron in Manassas has been shifting office space around making room for more management. More than likely Manassas will stay open and may even be their new base of operations. Boise may be in trouble being that it is 200mm not 300mm; Micron doesn't have the money to upgrade. I think a lot of people may get two choices; move to Manassas or be laid off. I was reading online that Boise is going to get a new nuclear power plant; it may be a good place to work for since they can't afford to piss off their employee's. The only problem with Manassas is that Applebottom wonít have any where to play with his go-cart. And yes tomorrow will probably be the layoff since Micron can't afford pissed off employees running around the FAB hitting EMO's and killing hundreds of wafers.....itís going to get very messy around here.
MTI

Boise, ID

#51 Jun 28, 2007
I heard the retention rate at MTV is low. Why would Micron relocate the headquarters there?
Rational

Boise, ID

#52 Jun 28, 2007
I think most people won't have any choice. Otherwise, it won't save any money for the company. They need to layoff. If they really need people in VA so badly, they won't stop hiring a few months ago.

The ecomony is still good so people should send out the resume asap.
Realistic

Boise, ID

#53 Jun 28, 2007
Oh boo hoo... Micron is raping me - Micron is destroying my life. Why don't you whiners take charge of your own lives and not leave your "happiness" in the hands of Appleton or Micron. Be responsible for youself - don't force your employer to be that person.

My guess is that all the "victims" that will suffer from the layoffs will be the:

* folks at micron that are "managers" with HS dipomas (they started as an operator too, just like Appleton) and with absolutely ZERO prospects of the same wage anywhere on earth.

* folks at micron who think that they are "irreplaceable." Everyone is replaceable - fact of life, folks.

* anyone talking about unions being able to save them.(pardon me while I laugh)

Basic thought here folks - please be responsible for yourselves. Don't under any cirucmstances leave it up to micron to be the "master of your destiny". If it doesn't work out with micron - then move on and do something else with your lives.

As for me - I'll sit back and wait. Tomorrow, or whenever. The layoffs are imminent. I know that I have a couple of aces up my sleeve should things go bad...

Do you?
Up_S_Creek_Too

Boise, ID

#54 Jun 28, 2007
What ticks me off is the poor management and the hiring glut that went on last year. I went through hell moving my family up here for a better life. I can pretty much assume I will have to go through it again. They were hiring software engineers to do 'monkeys could do it' type of programming. Will the people who made all the stupid decisions suffer? No way. I wish for every person who gets laid off, their supervisor 1 and 2 levels up have to put their name in a lotto. The more employees you screw, the more times your name goes into the lotto. After messing up the lives of people you should have never brought here in the first place, itís your turn. Start pulling names. I have seen way to many managers who serve no purpose other than to go to meetings and keep everyone from doing their jobs with stupid bureaucracy.

Whished I had known what kind of company this was before I put my family on the line and moved up here.

As irritating and brainless as Realisticís comments are, he \ she does make a point. I am not going to let a company like Micron screw me again.
Idagyl

Boise, ID

#55 Jun 28, 2007
I couldn't agree with you more! Micron management has needed a "MAJOR" overhaul for quite sometime...from top to bottom. Appleton has obviously had his head in the clouds (literally) for a very long time. Had he planted his feet in the fabs and on the test floors, it wouldn't have taken him long to realize the dollars literally being thrown away. Lower management positions (supervisors, trainers, leads) who rarely lifted a finger in a 12 hour shift and managers who begudgingly walked the long haul once or twice a shift to make their presence known. Pay them more and they will do less!! All that remains is the wait and see game...who stays, who goes? Will it be the 19 year old cart pusher from Walmart, employed less than 10 months, who kissed up and was promoted in less than a year, or the 50 year old Micron employee who has remained at the bottom of the totem pole for 12 years? After all the lies from management, when confronted about these rumors over the past 2 weeks, today it is confirmed!!
Non Micron

Boise, ID

#56 Jun 28, 2007
As a person in Boise who is not a Micron employee, I first heard about this on my way from work today. I am really shocked that if Micron is going to lay some of you off that they decided to do it this way. I do understand that layoffs are a necessary evil of doing business, but it is the way they are going about it that has me a bit troubled. I mean, if employees have a basic understanding that things may be coming, why would you wait and make a media spectacle out of them?

I saw Steve on the news clip and I do think that he feels bad, he is a person, but I couldn't believe the way he went about it. It was almost as if he was using the platform of major coporate layoffs to get a free advertisment for the Micron of the future.

I hope that all are wrong and that the people of the Treasure Valley get to keep their employment and their lives. If this is true it is unbelievably sad, and my thoughts and prayers are with you.
Mitch
#57 Jun 29, 2007
Well it's a good thing the housing market is still booming in Boise/Meridian. All the unemployed can become real-estate agents.

Oh .... wait ... it isn't.

I wonder how many former Micron Employees are facing $50,000 balloon payments on their fake mansions.

Eat Drink and Be Merry.....
Gnn

Termoli, Italy

#58 Jun 29, 2007
Tonight I was on job(MTI Fab 9 Avezzano)and I have read the Appleton's message, followed by a message of our fab manager, wich added that in MTI there will be no repercussions...for the next 12 months.
But me and many others workers don't fool ourselves and we think that soon or later they will shut down this plant too.
We started in 1989 as Texas Instruments, and I worked here for over 15 years.
In spite the distance I feel all of you close to me: the post #46 did make me cry.
Sorry for my american/english, I am a self-taught man with a good dictionary.
Insider2

Omaha, NE

#59 Jun 29, 2007
I was told today by leadership, that C shift will have their layoffs around 5pm or so today, and D shift will have their layoffs given to them at the end of their shift tonigh/tomorrow morning. A/B shifts will be called by phone.

Fair warning and good luck all.

Let me know when and where you find a good job. Loyalty is gone with Micron.
Insider2

Omaha, NE

#60 Jun 29, 2007
By the way. For all of you people reading this thread who do not work for Micron. The reason we are posting (for the most part) anonymously on the internet is because if Micron found out who we are, we would be fired immediately and without question; even though this is not a Micron event, confidential information, and it is our right to have freedom of speech.

Just thought you should know how things here in Idaho go.

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