AMCC Announces Restructuring

Applied Micro Circuits Corporation (AMCC) announced a restructuring of its operations, including a consolidation of facilities and a layoff of approximately 150 people, or about 20 percent of its workforce. As part of its restructuring plan, the company will close its facilities in Israel and will consolidate other facilities. Product development and customer support activities currently based in Israel will be consolidated into other AMCC locations. The restructuring is expected to reduce ongoing operating expenses by approximately six to eight million dollars per quarter in the quarter commencing April 2005. http://www.amcc.com