Vitesse Cuts 12 Percent Of Employees

Camarillo-based Vitesse Semiconductor, a manufacturer of high speed networking and other semiconductors, said Tuesday afternoon that it has cut approximately 12 percent of its worldwide workforce. According to the firm, the moves were made to "further reduce" the firm's operating expenses. The firm said it hopes the cuts will allow it to remain cash neutral or better for the fiscal year. Exact number of employees affected by the move was not disclosed. Vitesse is a maker of semiconductors for the high speed networking and other related markets.