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Micron Cuts Executives’ Salaries in Latest Belt-Tightening Move

Sanjay Mehrotra

Sanjay Mehrotra

Photographer: Ting Shen/Bloomberg

Micron Technology Inc. is cutting executives salaries by as much as 20% and suspending bonuses as the chipmaker copes with an industrywide slump.

Chief Executive Officer Sanjay Mehrotra will see his salary reduced by a fifth, with executive vice presidents getting a 15% cut, Micron said in a regulatory filing Thursday. Senior vice presidents will have their salaries reduced 10%, and bonuses will be suspended for all named executive officers.