Micron Technology will cut about 15% of its global work force as part of a restructuring of its computer memory chip operations.
An Associated Press report, quoting the company, also said the bulk of the job losses will be in Boise, where the semiconductor company is headquartered.
A company statement said the cuts were a result of declining customer demand and product oversupply, which has driven the selling price for NAND flash memory below manufacturing costs. Micron will shut down the NAND flash memory plant in Boise it operates as part of a joint venture with Intel Corp., it said.
The job cuts will take place over the next two years, starting with a voluntary program. Micron officials say the company will provide severance and outplacement services.
Micron employs about 19,000 people worldwide. A reduction of 15% would mean 2,850 fewer employees, and company spokesman Dan Francisco said roughly 1,500 of the cuts would be made in the Boise area.