Micron Suspends Executive Bonuses. The Stock Was Upgraded, Too.

Micron Technology


has suspended bonuses for executives, and the stock earned an upgrade, though the two don’t appear to be connected.

Micron (ticker: MU) said late Thursday a board committee had approved plans to cut certain executives’ salaries and suspended all executive bonuses in the fiscal year 2023. CEO Sanjay Mehrotra’s pay will be cut by 20%, according to a regulatory filing. The company is also cutting its workforce by 10%, it said in December.