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SECURITIES AND EXCHANGE COMMISSION
                                                  Washington, D.C. 20549

                                                     FORM 8-K
                                                 CURRENT REPORT
                                             Pursuant to Section 13 or 15(d) of
                                            the Securities Exchange Act of 1934



                                                    February 18, 2003
                                        Date of Report (date of earliest event reported)



                                  MICRON TECHNOLOGY, INC.
                                     (Exact name of registrant as specified in its charter)


                  Delaware                                001-10658                                  75-1618004
(State or other jurisdiction of incorporation)      (Commission File Number)               (I.R.S. Employer Identification No.)


                                                   8000 South Federal Way
                                                   Boise, Idaho 83716-9632
                                             (Address of principal executive offices)


                                                           (208) 368-4000
                                        (Registrant’s telephone number, including area code)
Item 5. Other Events.

                    Filed as an exhibit hereto is the registrant’s press release, dated February 18, 2003, announcing the
registrant’s cost reduction initiatives.




                                                                2
Item 7.       Financial Statements and Exhibits.

              (c) Exhibits.

              The following exhibits are filed herewith:


Exhibit No.        Description


99.1               Press Release issued on February 18, 2003.




                                                           3
SIGNATURE

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.


                                                                        MICRON TECHNOLOGY, INC.


Date: February 20, 2003                                                 By:    /s/ Wilbur G. Stover, Jr.
                                                                        Name: Wilbur G. Stover, Jr.
                                                                        Title: Vice President of Finance and
                                                                               Chief Financial Officer




                                                              4
INDEX TO EXHIBITS FILED WITH
          THE CURRENT REPORT ON FORM 8-K DATED February 20, 2003




Exhibit                                                 Description

 99.1      Press Release issued on February 18, 2003.




                                             5
EXHIBIT 99.1




       FOR IMMEDIATE RELEASE


       Contact:      David T. Parker
                     Micron Technology, Inc.
                     (208) 368-4400
                     dtparker@micron.com <mailto:dtparker@micron.com>
                     Web site URL: www.micron.com



           MICRON TECHNOLOGY ANNOUNCES COST REDUCTION INITIATIVES

     Boise, ID, February 18, 2003, Micron Technology, Inc., (NYSE: MU) announced today a series of
cost-reduction initiatives to further capitalize on the Company's aggressive migration to .11 micron
manufacturing process technology. The initiatives include increasing the Company's focus on products
utilizing its latest generation process technology and lowering costs and expenses.

  To meet corporate goals intended to strengthen the Company, reduce costs, and position the
Company for growth and profitability, the following actions are planned:

   - Increasing focus on products strategically aligned to utilize Micron's leading-edge process
     technology.

   - Prioritizing Micron's product portfolio to better emphasize those products with the greatest market
      opportunity.

   - Aligning Micron's cost structure with current market conditions.

   - Reducing worldwide workforce levels by approximately 10%.

    In commenting on the Company’s cost reduction measures, Micron's Chief Executive Officer and
President, Steve Appleton, said, quot;We remain committed to the long-term growth opportunities for our
Company and our industry. These actions will lower our cost structure, allow us to better focus our
product portfolio, and continue to invest in new technology.quot;



                                                   ###




                                                   6

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micron technollogy 8-K_021803_CostRestructure_PressRel

  • 1. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 February 18, 2003 Date of Report (date of earliest event reported) MICRON TECHNOLOGY, INC. (Exact name of registrant as specified in its charter) Delaware 001-10658 75-1618004 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.) 8000 South Federal Way Boise, Idaho 83716-9632 (Address of principal executive offices) (208) 368-4000 (Registrant’s telephone number, including area code)
  • 2. Item 5. Other Events. Filed as an exhibit hereto is the registrant’s press release, dated February 18, 2003, announcing the registrant’s cost reduction initiatives. 2
  • 3. Item 7. Financial Statements and Exhibits. (c) Exhibits. The following exhibits are filed herewith: Exhibit No. Description 99.1 Press Release issued on February 18, 2003. 3
  • 4. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MICRON TECHNOLOGY, INC. Date: February 20, 2003 By: /s/ Wilbur G. Stover, Jr. Name: Wilbur G. Stover, Jr. Title: Vice President of Finance and Chief Financial Officer 4
  • 5. INDEX TO EXHIBITS FILED WITH THE CURRENT REPORT ON FORM 8-K DATED February 20, 2003 Exhibit Description 99.1 Press Release issued on February 18, 2003. 5
  • 6. EXHIBIT 99.1 FOR IMMEDIATE RELEASE Contact: David T. Parker Micron Technology, Inc. (208) 368-4400 dtparker@micron.com <mailto:dtparker@micron.com> Web site URL: www.micron.com MICRON TECHNOLOGY ANNOUNCES COST REDUCTION INITIATIVES Boise, ID, February 18, 2003, Micron Technology, Inc., (NYSE: MU) announced today a series of cost-reduction initiatives to further capitalize on the Company's aggressive migration to .11 micron manufacturing process technology. The initiatives include increasing the Company's focus on products utilizing its latest generation process technology and lowering costs and expenses. To meet corporate goals intended to strengthen the Company, reduce costs, and position the Company for growth and profitability, the following actions are planned: - Increasing focus on products strategically aligned to utilize Micron's leading-edge process technology. - Prioritizing Micron's product portfolio to better emphasize those products with the greatest market opportunity. - Aligning Micron's cost structure with current market conditions. - Reducing worldwide workforce levels by approximately 10%. In commenting on the Company’s cost reduction measures, Micron's Chief Executive Officer and President, Steve Appleton, said, quot;We remain committed to the long-term growth opportunities for our Company and our industry. These actions will lower our cost structure, allow us to better focus our product portfolio, and continue to invest in new technology.quot; ### 6