LEHI — A Utah County technology firm is announcing staffing layoffs as a cost-cutting measure. Lehi-based IM Flash — a joint venture between Micron and Intel — said Monday the cutbacks are needed to remain competitive in the flash memory industry.
"We can confirm that IM Flash is engaged in a workforce reduction to put in place greater efficiencies and to save costs," said Micron spokesman Daniel Francisco.
The IM Flash workforce reduction involves about 7 percent of the company’s workforce, or about 130 positions out of about 1,850 positions overall, he said.
"Impacted team members will be notified over the course of this week," he said.
Founded in 2006 by Intel Corp. and Micron Technology Inc., IM Flash is a semiconductor company that produces flash memory for use in consumer electronics, removable storage and handheld communication devices.
Francisco said the memory market has become competitive and has "created a situation for the companies involved to look at making sure they have aligned their business priorities to the most strategic aspects of the business as well as making sure they are as cost-effective as possible."