Item 2.02 Results of Operations and Financial Condition.

On August 10, 2020, Pixelworks, Inc. (the "Company") issued a press release announcing financial results for the three and six month periods ended June 30, 2020 and held a conference call to discuss the Company's financial results. The press release and conference call contain forward-looking statements regarding the Company, and include cautionary statements identifying important factors that could cause actual results to differ materially from those anticipated.

The press release issued August 10, 2020 is furnished herewith as Exhibit 99.1, to this Report and a copy of the Company's conference call script announcing these financial results is furnished herewith as Exhibit 99.2. The information in this Item 2.02, including Exhibits 99.1 and 99.2, is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liability of that Section, nor shall such information be deemed to be incorporated by reference in any registration statement or other document filed under the Securities Act of 1933 or the Exchange Act, except as otherwise stated in such filing.

Item 2.05 Costs associated with exit or disposal activity.

On August 7, 2020, the Board of Directors (the "Board") of Pixelworks, Inc. (the "Company") approved a restructuring plan to make the operation of the Company more efficient and which would result in an approximately 14% reduction in workforce, primarily in the areas of operations, research and development, sales, and marketing. The Board believes adoption of this restructuring plan will help streamline the Company's operations and workforce, and more appropriately align the Company's operating expenses with current revenue levels. The Company expects the restructuring to be substantially completed by the end of the third quarter ending September 30, 2020 and expects to incur total estimated restructuring charges of approximately $1.5 million related to employee severance and benefits. The Company expects that these charges will largely be recorded in the third quarter of 2020.

As a result of the restructuring, the Company expects to realize annualized savings of approximately $3.2 million.

Item 9.01 Financial Statements and Exhibits.



(d) Exhibits.

Exhibit No.              Description
99.1                       Press Release issued by Pixelworks, Inc. dated     August 1    0, 2020.
                           Pixelworks, Inc.     Second     Quarter Results Conference Call Script
99.2                     dated     August     1    0, 2020.

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