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To: zx who wrote (8925)	5/2/2001 4:45:39 PM
From: Tom Hua	Read Replies (1) \| Respond to of 19633

Wednesday May 2, 4:30 pm Eastern Time Press Release Vitesse Semiconductor Corp. Announces Work-Force Reduction CAMARILLO, Calif.--(BUSINESS WIRE)--May 2, 2001--Vitesse Semiconductor Corp. (Nasdaq:VTSS - news; the ``company'') today announced that in response to current market conditions that are adversely affecting the company and the industry at large, it will be reducing its work force by approximately 12 percent in the quarter ending June 30, 2001. Vitesse currently employs 1,280 people worldwide. Vitesse President and Chief Executive Officer Lou Tomasetta said: ``This action was necessary in light of the slowdown in customer demand and the need to size the company to previously announced revenue expectations. As an additional measure to reduce the company's operating expenses, upper management will be taking 10-25 percent salary reductions.'' As a result of the work-force reduction, Vitesse anticipates that it will record a one-time charge of between $1.5 million and $2.0 million in the third quarter of fiscal 2001. Vitesse Semiconductor is a leading designer and supplier of innovative, high-performance semiconductors utilizing state-of-the-art processes for the manufacturers of next-generation DWDM and optical networking communications equipment. Vitesse also develops storage area networking ICs and enclosure management products. The company's products address the needs of Core, Access, Optical and Enterprise network equipment manufacturers that demand a combination of high speed, high complexity and low power dissipation. Vitesse has headquarters in Camarillo and operates two fabrication facilities, in Camarillo and Colorado Springs, Colo. Company/product information can be found on the Web at www.vitesse.com.