As far as Lansheng Technology knows: the global semiconductor giant announced an expanded layoff plan, due to a single quarter loss of 2.3 billion US

 According to a report on the 28th local time by MarketWatch, a Dow Jones company's financial website, memory chip maker Micron Technology announced a record quarterly loss due to inventory write-downs of more than $1.4 billion.

The report pointed out that Micron Technology’s second-quarter loss was US$2.31 billion, or US$2.12 per share, with sales of US$3.69 billion, lower than the US$7.79 billion in the same period last year. The company's previous largest quarterly loss on a GAAP basis was $1.94 billion in the same quarter in 2003, according to FactSet records. After accounting for stock-based compensation and restructuring costs from recent layoffs, the company lost $1.91 a share, compared with adjusted earnings of $2.14 a year earlier.

Sanjay Mehrotra, CEO of Micron Technology, said, "We now believe that customer inventories in several end markets have decreased, and we expect the supply-demand balance to gradually improve in the coming months. Excluding the impact of inventory write-downs, the balance sheet's inventory turnover days (DIO ) has peaked in the second fiscal quarter, and the quarterly performance has reached an inflection point that will increase quarter-on-quarter.” Lansheng Technology is also looking forward to its turnaround as soon as possible to achieve quarter-on-quarter growth.

According to Reuters, Micron Technology expects third-quarter revenue to fall by nearly 60% year-on-year, but the sharp decline is in line with Wall Street expectations. Company executives are confident in the long-term prospects, believing that the market size of the industry will hit a record high in 2025.

Micron Technology also stated that it will maintain investment at around US$7 billion in fiscal year 2023, which is the lower limit of the previously set range; it will expand the layoff plan from the previously estimated 10% to 15%.