In ASML's case, the software contained all the confidential information about the scanners and how they work, which makes it a target for IP theft. This software was used to create digital twins of scanners and other tools and allowed information to be shared among the company's employees. Specifically, the employee worked for the Teamcenter software division responsible for lithography tool management. According to Bloomberg, the employee in question was part of a product life cycle management (PLM) program for ASML's advanced lithography solutions. The Netherlands-based ASML has reportedly launched a comprehensive investigation into the company's branch in China following reports that one of its former employees allegedly stole confidential information. Micron will reports is financial Q2 '23 results at the end of March, with previous quarters results indicating that Micron is expecting a drop in revenue of up to US$300 million compared to the previous quarter.
This means that Micron will be stuck at 232-layer 3D TLC NAND for longer than initially planned, which could lead to Micron losing market to its competitors, specifically SK Hynix and Samsung in this case, while allowing other competitors to catch up. This is all taking place while the company is slowing down its tech node transitions and as such, its 1-gamma note will be moved to 2025.
Micron has already reduced its wafer starts, for both DRAM and NAND flash by around 20 percent. The company is also lowering its capex, not just for 2023, but also for 2024, although the company is expecting more on building new fabs. This suggests that there might be several stages of layoffs, unless things improve and demand for Micron's products pick up. Back in December, Micron announced it was planning to lay off around 10 percent of its global workforce, which at the time sat at around 49,000 employees, but it appears that cut wasn't enough, as company spokesman Tate Tran has confirmed the total headcount reduction is expected to around 15 percent, although that is for the entire year of 2023. It appears things are tougher at Micron than expected, as according to Boise State Public Radio, the company is looking at cutting an additional five percent of its workforce.
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