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To: FiloF who wrote (53360)	9/28/2001 10:26:39 AM
From: Proud_Infidel	Respond to of 70976

Atmel to cut 2,500 jobs, close two 6-inch fabs, delay U.K. plant startup Restructuring in U.S. and Europe will save $600 million per year, says company Semiconductor Business News (09/28/01 09:43 a.m. EST) SAN JOSE --Atmel Corp. today announced it will close two six-inch wafer fabs and suspend the startup of an 8-inch fab in the U.K. as part of an overall restructuring plan that was recently disclosed to financial analysts. In providing details about the cost cuts, said it will lay off 2,500 workers in Europe and U.S., or about 26% of its headcount in those two regions at the start of 2001. Amtel said it aims to reduce manufacturing and operating costs by $150 million per fiscal quarter, or about $600 million per year, compared to its 2001 first-quarter run rate. Early this morning, Atmel did not initially identify the location of the two six-inch wafer fabs being closed. While business conditions remain weak, the company said it was postponing the launch of a new 8-inch wafer facility in North Tyneside, England. The San Jose-based company said all of its support functions in the U.S. and Europe will be "rationalized and reduced" to support the current low levels of business in the industry's downturn. A separate pre-tax accrual of $50 million associated with job cuts is also expected to be recognized the current third quarter, said the company. "This is the most difficult business climate our industry has ever faced," said George Perlegos, chairman and CEO of Atmel. "We do not expect a rapid improvement in market conditions, and accordingly we have decided to reduce our expense run rate to a level that should ensure positive operating profits by the first half of 2002." "We continue our efforts to develop new leading edge products and plan to begin transition from 0.18-micron technology to 0.13-micron technology by the middle of 2002," Perlegos said. "The combination of lower costs, high performance products and leading edge technology is the best antidote to the current environment."

To: FiloF who wrote (53360)	9/28/2001 11:14:47 AM
From: Sun Tzu	Read Replies (3) \| Respond to of 70976

A man and a lion are walking together in the woods. They come to an engraved stone along the trail depicting a hunter killing a lion with his sword. The man gets smirk on his face and stands tall looking at the picture. The lion answers, "my good friend, if my species also knew how to carve, the forest would be full of pictures of men being eaten by lions". Sun Tzu So who supports those corrupt leaders and opposes social and political changes in the Islamic countries unless it is of great profit to the Big Money?