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Micron Technology, Inc. (Nasdaq: MU), today announced the release of its fifth annual diversity, equality and inclusion (DEI) report titled, "We are Micron," to mark progress and achievements across its six DEI commitments .
"These commitments hold Micron accountable to seek greater diversity, drive equal pay and benefits, strengthen our culture of inclusion and be a positive force for all ," said Micron President and CEO Sanjay Mehrotra. "Our commitment to DEI extends globally. It is embedded in our business practices and in our investments for the future."
As Micron expands its global leading-edge manufacturing and R&D capability over the next decade, the company has made significant commitments that will help build the diverse workforce for the future. This has been a centerpiece of Micron's recent expansion announcements in Idaho and New York . Micron is working across Idaho to create a workforce development plan. Under this plan, the company will build a high-skilled talent pipeline through targeted DEI investments in rural communities and with veteran organizations to create equitable access for underrepresented groups. In New York, Micron established an industry-first Community Investment Framework in partnership with the state. This framework reflects shared community priorities, including training and education programs to expand employment opportunities for women, people of color, veterans and other underrepresented communities. These efforts build on Micron's commitment to growing a diverse STEM talent pipeline in the communities where it does business.
"We are proud of the meaningful progress our team is making to foster diversity, equality and inclusion inside and outside the company," said April Arnzen, senior vice president and chief people officer at Micron and president of the Micron Foundation. "At Micron, we believe that respecting and valuing diversity encourages our team members to share their unique perspectives and fuel innovation and creativity, and that's why we continue to focus on DEI at all levels of the company."
"We Are Micron" DEI Report Highlights
Micron's female workforce increased globally for the fourth year in a row, now representing 31% of the global workforce and trending ahead of the industry average . The company's percentage of women increased for vice presidents, senior leaders and leaders in technical positions around the globe. More than 22% of the original patent applications that Micron filed in fiscal year 2022 (FY22) named a woman as an inventor, for a total of 182 female team members — an increase of 10% over FY21. As a part of Micron's growth, Micron is committed to supporting women and families by identifying quality, affordable and accessible child care solutions for the direct workforce and broader community globally. This includes FY23 investments and partnerships in Malaysia and the United States to provide affordable world-class child care facilities and support to Micron employees.
Micron also enhanced its focus on the veteran community, with representation increasing for the fourth year in a row to approximately 9% of its U.S. workforce for FY22. Now veterans account for nearly 17% of Micron's overall workforce in the U.S. Aspiring to hire more than 1,500 veterans , the company established new partnerships with Syracuse University's D'Aniello Institute of Veteran and Military Families (IVMF) to help veterans develop the skills necessary for advanced manufacturing jobs and transitions into Micron and other industry roles.
Micron actively participates in diversity and inclusion indexes, listed on the Bloomberg Equality Index for the first time this year and achieving a perfect score on the U.S. Human Rights Campaign's Corporate Equality Index for the second year in a row. Also, for the first time, in FY22, Micron India and Micron Japan received recognition, through the India Workplace Equality Index and Japan Pride Index, respectively, for their inclusion of the LGBTQ+ community. Micron participated in the 2022 Disability Equality index for the second time and was named on its list of Best Places to Work for Disability Inclusion.
In 2021, Micron achieved comprehensive global pay equity for all underrepresented groups, for base pay, cash bonuses and stock awards among veteran, Black or Hispanic/Latino employees in the United States, as well as for gender and people with disabilities globally. For the first time in FY22, Micron included race and ethnicity outside the U.S. to include Malay in Singapore.
Micron's 10 employee resource groups (ERGs), with 82 chapters around the world, provide community and allyship for team members from diverse groups. Membership in Micron's ERGs grew 47% this year, with 39% of the total workforce now belonging to at least one ERG. ERGs are foundational to Micron's DEI programs, and for the first time, Micron rewarded the contributions of ERG leaders by providing them with stock grants in honor of their service.
"Micron's ERG members ignite inclusion in our company," said Vice President and Chief Diversity Inclusion Officer Fran Dillard. "They are powerful ambassadors, allies and the embodiment of what it means to be for all ."
From K-12 to college campuses, ERG members continuously engage with young people, introducing the possibilities of STEM careers. This year, Micron expanded its Chip Camp program to Norfolk State University, one of Micron's prioritized historically Black colleges and universities (HBCUs). In FY23, Chip Camp will expand outside the U.S. to Micron sites in Asia as the company seeks to increase access to STEM education around the world.
In addition to strengthening DEI internally, Micron partnered with businesses in key areas to build a more inclusive economy while supporting underrepresented communities. Micron has increased the use of diverse financial firms for our investments, debt issuance and share repurchases. In FY22, Micron invested $500 million with diverse financial institutions. In FY23, the company intends to increase that amount to $750 million and evaluate opportunities to leverage community and minority financial institutions as the company grows in the U.S. In addition, Micron achieved a spend of $454 million with diverse suppliers, exceeding its goal of $404 million for FY22.
The full Micron report, titled "We Are Micron: 2022 DEI Report," can be found at www.micron.com/dei .
About Micron Technology, Inc.
We are an industry leader in innovative memory and storage solutions, transforming how the world uses information to enrich life for all . With a relentless focus on our customers, technology leadership and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND and NOR memory and storage products through our Micron® and Crucial® brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence and 5G applications that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com.
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