Memory chip giant Meguiar announced that layoffs were inevitable

According to the latest report, Meguiar announced the layoff plan on December 21 last year, which is expected to be completed by the end of this month, and their staff will also be significantly reduced. These measures include further revision of capital expenditure in fiscal year 2023 and 2024, substantial reduction of operating expenditure in fiscal year 2023 and suspension of stock repurchase.

According to the layoff plan announced at that time, this round of layoffs of Meguiar will affect nearly 5000 employees. At that time, Meguiar had about 48000 employees in the world, and the expenditure on layoffs will reach 30 million dollars.

Meguiar said that because the weak market environment has seriously impacted the storage industry, Meguiar must take measures to reduce supply and control costs. In order to maintain the company's sound physique and financial performance, personnel reduction is a difficult but inevitable decision.

Meguiar said that it attached importance to and cared about team members, and appreciated the contributions of all employees to Meguiar, and was doing its best to help the employees affected in the manpower reduction measures. Meguiar has completed talks with some employees. Different from a few media reports, relevant employees left their jobs voluntarily after participating in the meeting. The process of the meeting took care of the feelings of colleagues first and was respected. The process was in line with the laws and regulations of Taiwan, China.

Meguiar stressed that, with the agreement of both parties, Meguiar provided a resignation plan superior to the current regulations, and promised to provide assistance to employees during their transfer. Meguiar's commitment to long-term deep cultivation in Taiwan, China remains unchanged. Meguiar has a long history of manufacturing, innovation and R&D in Taiwan, China, China. Taiwan, China is also one of the most important DRAM manufacturing and R&D bases.

With regard to Meguiar's major layoffs, a person familiar with the matter said that Meguiar's layoffs were based on actual performance. Procurement, sales and even engineers may be the targets of layoffs, and new employees will be added in succession. The report points out that although Meguiar is strictly controlling personnel costs, it continues to recruit talents for future development.