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

toggle

Most Popular

Sponsor

Recent Reviews

Dell AD211 Bluetooth speaker

For all of the high-priced, over-engineered Bluetooth speakers in the electronics market, there is still room for mass-market solution ...

VisionTek 128GB USB Pocket SSD

USB flash drives dealt the death blow to both the floppy and Zip drives. While still faster than either of the old removable media, sp ...

Kodak PixPro SL10 Smart Lens Camera

Smartphone imagery still widely varies. Large Megapixel counts don't make for a good image, and the optics in some devices are lacking ...

Sponsor

toggle

Most Commented

 
toggle

Popular News