Micron requests government support to encourage domestic manufacturing
Semiconductor shortages resulting from disruptions to the global supply chain limit Micron Technology’s growth. In 2021, the company joined Intel, AMD and other major semiconductor companies in asking the United States government to subsidies domestic chip manufacturing. Despite passing the Facilitating American-Built Semiconductors Act in 2021, Congress is squaring the House and Senate versions in committee before sending any subsidies. In March 2022, the war in Ukraine prompted concerns over the supply of natural gases critical for chip production. American companies want to transition away from offshore manufacturing to mitigate global supply chain risks.
New ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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