is laying off 10% ofits staff in a bid to bring expenses into line withits sagging revenues. The company has a payroll of18,700.
In early afternoon trading, shares gained 35 cents, or 5%, to $7.52.
The company, which makes a form of computer memoryknown as DRAM, hasn't made a profit in two years. Inits most
recentquarter ending in November, it posted a netloss of $316 million and missed Wall Street's revenueestimates by 15%.
Adding to its worries, Micron lost market share in2002, according to Gartner Dataquest, while toughrival
Last month, as many had predicted, Micron hit upthe capital markets for money, issuing $550 millionin convertible notes.
Aiming to boost the appeal of its products, thecompany also said today it will focus more on usingthe latest-generation process technologies.