SanDisk to cut jobs to counter falling prices

SanDisk Corp. of Milpitas, Calif., said it would cut 10% of its workforce and trim executive salaries to compensate for a collapse in memory chip prices.

It was the second recent warning about oversupply in the volatile memory chip industry. Micron Technology Inc. said last week that prices for memory chips used in consumer electronics would drop 30% to 40% this quarter.