Restructuring

During fiscal year 2016, Semtech Corporation announced a worldwide reduction in force as part of an overall plan to align operating expenses with business conditions and leverage recent infrastructure investments.

Restructuring related liabilities are included in “Accrued liabilities” within the condensed consolidated balance sheets as of May 1, 2016 and January 31, 2016, respectively. Restructuring charges, if any, are presented in “Restructuring charge” within the condensed consolidated statements of income.

The following table summarizes the restructuring activity for the three months ended May 1, 2016:



(in thousands)	One-time employee termination benefits
Balance at January 31, 2016	$	342
Adjustments	(9		)
Cash payments	(205		)
Balance at May 1, 2016	$	128