Printed from http://www.electronista.com

SanDisk hit by layoffs, price cuts, salary freezes

updated 04:55 pm EST, Fri February 16, 2007

SanDisk hit by layoffs

Citing a 50 percent drop in NAND memory prices, caused by excess supply, SanDisk has announced a variety of severe cost-cutting measures. The harshest among these is the layoff of 10 percent of its employees, or roughly 250 people. The bulk of the terminations will happen in March, and should primarily target the company's "private label" USB business, which has not been as profitable as the SanDisk brand. All other employees will have their salaries frozen, except for the executive staff, who will take pay cuts ranging from 10 percent for the average vice president up to 20 percent for the CEO. Total savings are expected to be $30-35 million. Shoppers will benefit in the short term, as prices may drop by as much as 30 to 40 percent during the first quarter of 2007.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

Prong PWR Case

Ultimately there's one thing we all want from smartphone accessories; we want options. When it comes to keeping our iPhone charged, we ...

iHome iBT74 Color Changing Bluetooth Speaker

There's no reason why your tech can't look good while doing what it was designed to do. That's the reason that sports cars look good a ...

Logitech Gaming Daedalus Prime Mouse

Logitech Gaming continues to expand upon its peripherals line, with each one looking to fit neatly into a breadth of gaming needs. Bui ...

Advertisement

toggle

Most Commented