Sterling Mining Company & Micron Technology, Inc.

Sterling Mining Company has laid off 90 employees and suspended silver production at the Sunshine Mine in northern Idaho. In June the company disclosed that financial problems had forced it to consider finding a partner, and in July Canadian mining company Minco Silver Corp. said it would pay $62.3 million to acquire 61 percent of Sterling Mining. However, Minco later changed its mind and the deal didn't go through. In July silver was trading around $17.50 an ounce. The price has since dropped to around $10.50. Sterling's interim president said the job cuts were a difficult decision but that company leaders believe it is the only reasonable course of action. Sunshine Mine produced 354,000 ounces of silver in August, much less than Sterling anticipated or required to sustain operations, the company said.

Computer chip maker Micron Technology will reduce its global workforce by about 15 percent in the face of declining customer demand. The bulk of the job losses will be in Boise, Idaho, where the company is headquartered.