Applied Micro Circuits Letting Go 100

Sunnyvale, California communications chip maker Applied Micro Circuits is cutting jobs and compensation in a move to reduce costs.

The job cuts will effect about 100 employees. Applied Micro has about 580 workers, meaning the cuts amount to 17% of the workforce worldwide.

The move is expected to reduce costs by $14 million to $16 million for the company’s 2010 fiscal year.

Applied Micro Circuits Corporation is a fabless semiconductor company, designing network and embedded Power Architecture, optical transport and storage solutions.