Wednesday, December 13, 2006

Atmel Cuts Jobs, Restructures Operations

San Jose-based Atmel, a manufacturer of semiconductor products, said today that it is selling several of its wafer fabrication facilities and cutting its staff by 300 employees, as it goes through a strategic restructuring. Atmel said this morning that it will look to sell its facilities in North Tyneside, United Kingdom and Heilbronn, Germany, and will reduce its workforce by approximately 300 employees, ten percent of the company's employees. The firm also said that once it sells its manufacturing facilities that an additional 1,000 additional employees will be affected. Atmel also said it will halt design and development of non-core products, as it looks to enhance its profitability.