Online information source for semiconductor professionals
Atmel plans 11-day fab shutdown
Popular articles
Voltaix names Peter Smith as CEO - 09 November 2011
Sematech Litho Forum: Sematech mulling multi-beam mask writer effort - 12 May 2010
TSMC hosts 2008 Green Forum on ‘green’ factories - 31 October 2008
Oberai discusses Magma’s move into solar PV yield management space - 29 August 2008
TSMC honors suppliers at annual Supply Chain Management Forum - 03 December 2008
As part of new cost reduction strategy, Atmel Corporation is to stop production at its semiconductor fabrication facilities in Colorado Springs, Colorado and Rousset, France for 11-days. The company noted that a headcount reduction of 200, previously announced and affecting workers in France had been completed.
However, the current economic environment meant that Atmel would also make an 11% reduction in its North American workforce as well as a 10-day shutdown for non-manufacturing employees.
Atmel made the announcements at the same time as lowering fourth quarter 2008 revenue guidance, which it expects will be down 12% to 18%. Atmel posted $400 million in revenues for the third quarter of 2008.
The workforce reduction is expected to make approximately $18 million of savings on an annualized basis and charges of approximately $4 million related to severance pay in the fourth quarter.