Micron Technology: Leveraged Buyout Announcement Seems Imminent

[LeftLongAgo]

Wow, Micron is still running !? Amazing!

[First of many]

Let the fun begin. On Friday 4/25), the next group of the latest round of (non published) layoffs/outsourcing will take place. About 50 IS personnel. Our packets have been given and the clock is ticking. Next round - the end of May, which will be a much larger group.

[PrivateIdaho]

Can SOMEONE explain how they can possibly be SAVING money by outsourcing IS? When owners of Indian outsourcing companies are building multi-million dollar mansions, SOMEONE is making a buttload of money. And it's a good thing Micron is saving $15M a year so they can invest $500M in a JV.

I would also like an answer to how the hell a company can lose $1.3B in a year and a half and STILL have the same amount of cash reserves they had 18 months ago?!?!

[Virgina]

Earnings are not the same as cash flow.
All of that money from Intel and the convertible bond offering is how Micron still has the cash it does.
However, those bonds will have to be paid back eventually.

[brxp4413]

I wish the best for the next round. At least you had future warning... Take some time to yourselves and family, then take advantage of what MU gives in the package. Your packages are probably better then the first round... Anyway getting away from that high stress working environment is pay enough!!!!

[Ex IM Flash]

I was promised all the same promises at IMFT as many of you at MICRON, that ship (Micron) is sinking fast, the management there is a joke, many of them at IMFT (former or seconded Micron) are jokes and the whole operation is a pig fat pile of steaming you know what. I could not run fast enough from that place. I asked about raises and was flat out blasted by my manager. He even told me and I quote "You are not worth what you are getting paid" I have since moved on to greener pastures and received a 50% pay increase while so doing.

Anybody in the market for some very large warehouse space, I know of some that will be coming up for sale in Boise, Manassas, Lehi, and probably some unfinished space in Singapore (btw, Samsung will probably be able to buy a half built Nand Flash fab in Singapore the way things are going for the all powerful Micron at this point)

[Ben5566]

What happened in IS. Did they just get transfered to teh outsourcing vendor. How many are left.

[Micron blows]

Many people in IT left already on their own. Most applied to HCL and many got hired, but not all. Those people will be gone in June I believe.

Many of the people who got hired on by HCL transition this week or next.

[Micron Scrweeed]

Jeff Morsettt takes in the head daily

[StillWorking]

I just read through this list for the first time. Wow, there are a LOT of angry former Micron people out there! I'm sure you al have your reasons, but let me offer my point of view.
I've been with the company +15 years now. Started as an operator, am now an engineer 2. Micron paid for my schooling. I've had two knee surgeries, one shoulder rebuild, and a hand repaired. Never any problems with insurance. I've never had an abusive manager, have never recieved less than full support form my bosses and co-workers. I can't really complain about my job. I'd like to know what section everyone else had the misfortune to work for, because I haven't come across anything as horrendous as what's been described here. All I can ask is if it was so bad why didn't all the complainers leave on their own, instead of waiting to get RIF'd?

[notthere]

StillWorking wrote:

I just read through this list for the first time. Wow, there are a LOT of angry former Micron people out there! I'm sure you al have your reasons, but let me offer my point of view.
I've been with the company +15 years now. Started as an operator, am now an engineer 2. Micron paid for my schooling. I've had two knee surgeries, one shoulder rebuild, and a hand repaired. Never any problems with insurance. I've never had an abusive manager, have never recieved less than full support form my bosses and co-workers. I can't really complain about my job. I'd like to know what section everyone else had the misfortune to work for, because I haven't come across anything as horrendous as what's been described here. All I can ask is if it was so bad why didn't all the complainers leave on their own, instead of waiting to get RIF'd?

I was with the company 22 years and worked in RDA as Engineer Tech 2. I started with the company way back in the day when people actually WANTED to work there and employees were proud to be called "micronites". I was treated well by my bosses but I saw the slow decline in everything from upper management's work ethic and professionalism to very low morale in employees. When rumors about impending layoffs started flying the department manager met with the group and told us to rest easy and that if there was a layoff our department would not be affected. Two weeks later changes started taking place and they transferred me to a different shift and given the task of training my replacement (unbeknowngst to me). I was the only one in my department to be layed off. I don't have a problem with the company cutting back but I do have a problem with the unscrupulous manner in which management carried out the layoffs. I was actually treated very well when the manager informed me I was about to get walked out but there are many, many people with the same amount or more of years of service who were treated very badly when they got walked out. I also question why the company go rid of people who were loyal with many years of service over others with less experience and have often wondered how much money the company saved with all the mandatory overtime that has been required of those left behind.

[just_curious]

StillWorking wrote:

I just read through this list for the first time. Wow, there are a LOT of angry former Micron people out there! I'm sure you al have your reasons, but let me offer my point of view.
I've been with the company +15 years now. Started as an operator, am now an engineer 2. Micron paid for my schooling. I've had two knee surgeries, one shoulder rebuild, and a hand repaired. Never any problems with insurance. I've never had an abusive manager, have never recieved less than full support form my bosses and co-workers. I can't really complain about my job. I'd like to know what section everyone else had the misfortune to work for, because I haven't come across anything as horrendous as what's been described here. All I can ask is if it was so bad why didn't all the complainers leave on their own, instead of waiting to get RIF'd?

I was there for 15 years. Always treated fair. Started as an operator, left as a senior tech. Always great reviews, several additional bonuses over the years. Lots of stock options. I was treated very fair when I was walked out. I just never saw it coming. Why me??????

[Gordon Gecko]

"All I can ask is if it was so bad why didn't all the complainers leave on their own, instead of waiting to get RIF'd?"

You could be next, you never know! HaHaHa! Time might be on your side.... but it could be...

[Gordon Gecko]

StillWorking wrote:

All I can ask is if it was so bad why didn't all the complainers leave on their own, instead of waiting to get RIF'd?

You could be next, you never know! HaHaHa! Time might be on your side.... but it could be, you're next... and then all those things you brushed off become wounds.

[Ovonyx]

I am 'a complainer' and I left on my own. Believe me, other companies treat people far, far better. Hours are normal, pay is better, benefits are better, and there isn't the 'we can get them off the street if you don't like it' attitude. I don't miss anything about Micron. Those who stay there are wasting months and years of their lives that could be spent at companies where their hard work is appreciated and rewarded, instead of being expected and having the bar constantly raised higher. The price fixers at the top of Micron are going to bring the whole thing down someday.

[GoneFromMicron]

I really think it is the good old boy syndrom...since most managers and above are safe safe safe. Soon it will be management only.

Plus how many companies would tolerate the massive losses Appleton has amassed and still leave him in charge. Those are the two things that really got to me. Currently I am making almost twice as much as I was at Micron...so am I complaining now...absolutely not. Is it still wrong...yes it is.

[Happy To Be Gone]

At Micron, I always wondered: "how many engineers does it take to make a bit of DRAM" since every process seemed over designed in the wrong ways. But I'm happy to be gone but miss Boise.

[GoingToOre]

Micron traditionally paid lower-tier wages since they felt they'd make it up in bonus & options. Well, that crap dried up 7 or 8 years ago, but they never brought base pay in line with industry norms.

In the meantime, cost of living in Boise has gone up to the point where living in the Portland area costs only about 12% more than Boise. And the job I'm going to pays 55% higher salary.

Hint to tech workers in Boise - get the hell out while you can. Fabs are going to be more automated and more jobs outsourced to India and China. Note that on dice.com there are nearly 1000 job listings in Portland, 2500 in Seattle. In Boise? 54