Item 2.05. Costs Associated with Exit or Disposal Activities

On December 12, 2008, we initiated a company wide restructuring that is expected to cut our worldwide workforce by approximately 1,100 people in order to reduce operating expenses. The restructuring actions are intended to address current market conditions and our ongoing commitment to increasing the efficiency of our operations. We expect to incur a total of $12 to $16 million in one time cash charges, primarily for severance, related to these actions. These charges will be spread between the current quarter and the first quarter of 2009. We intend to begin these actions immediately and expect to be substantially complete with the actions at the end of the first quarter of 2009.

Item 7.01. Regulation FD Disclosure

On December 12, 2008, we issued a press release updating our fourth quarter 2008 outlook. Further information is included in our press release attached as Exhibit 99.1 to this report and incorporated herein by reference.

On December 15, 2008, we announced several rulings relating to our ongoing patent litigation against Power Integrations, Inc. Our press release announcing the rulings is attached as Exhibit 99.2 to this report and incorporated herein by reference.

The information in this item and Exhibits 99.1 and 99.2 attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

Item 9.01. Financial Statements and Exhibits

EX-99.1 Press Release dated December 12, 2008.

EX-99.2 Press Release dated December 15, 2008.

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