Item 8.01 Other Events.
During March, 2009, Tollgrade Communications, Inc. (the "Company") implemented certain initiatives aimed at increasing efficiency and reducing costs. These initiatives are expected to generate approximately $1.5 million in savings annually. While the Company has recently added positions to support its strategy, it eliminated 14 positions in March in addition to other cost saving activities. The headcount reductions were primarily in professional services, operations and marketing. As a result, the Company expects to incur approximately $0.3 million in severance and related charges during the first quarter, 2009.
Certain statements contained in this Form 8-K are considered to be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on assumptions that involve risks and uncertainties and are subject to change based on the considerations in our Annual Report on Form 10-K under the heading "Risk Factors." These and other risks and uncertainties may cause our actual results, performance or achievements to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements.

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