Memory chipmaker Micron Technology will cut its global workforce by 15 percent over the next two years due to a massive slowdown in demand for memory chip technology, the Boise, Idaho-based company said Thursday. Micron employs about 22,600 people, and said the cost of restructuring would be about $60 million. In late-day trading Thursday, Micron shares were up 0.8 percent to $3.94. One Wall Street observer said Micron is making the right move by cutting costs. At the root of the problem is a huge oversupply of memory chips, which has led to seven straight quarters of losses at Micron.
