Atmel said it will cut up 210 workers within its operations in Nantes ,France.

''Atmel submitted a proposal to French works council to reduce overlap groups, which could impact up to 210 employees,'' said Edwin Mok, an analyst at Needham & Co. LLC, in a report. ''While Atmel cannot provide more details, it stated that the review will take 2-3 months. We believe this is a good sign that Atmel will take additional steps to reduce Euro-based expenses.''

The disclosure follows a loss for Atmel. Revenues for the second quarter of 2008 were $420.9 million, a 2.4 percent increase compared to $411.2 million for the first quarter of 2008 and a 4.1 percent increase compared to $404.2 million for the second quarter ended June 30, 2007.

Net loss for the second quarter of 2008 totaled $4.9 million, or minus $0.01 per diluted share. This compares to net income of $6.8 million or $0.02 per diluted share for the first quarter of 2008 and net income of $0.7 million or $0.00 per diluted share for the year-ago quarter.

Atmel implemented a change in revenue recognition with regards to its independent distributors in Europe converting from a sell-in to a sell-through revenue model.

By: DocMemory
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