AAPL Stock: 111.31 ( + 0.53 )

Printed from

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 MacNN Staff





Login Here

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


Network Headlines

Follow us on Facebook


Most Popular


Recent Reviews

Polk Hinge Wireless headphones

Polk, a company well-established in the audio market, recently released a new set of headphones aimed at the lifestyle market. The Hin ...

Blue Yeti Studio

Despite being very familiar with Blue Microphones' lower-end products -- we've long recommended the company's Snowball line of mics ...

ZTE Spro 2 Smart Projector

Home theaters are becoming more and more accessible these days, but maybe you've been a bit wary about buying a home projector. And h ...


Most Commented