It's mobile/notebook version: http://www.cpu-world.com/CPUs/Bobcat/AMD-E%20Series%20E-350%20-%20EME350GBB22GT.html
Anyway i'm running 4 KVM+1 container on celeron 847 (pretty much the same spec. as amd e350) and cpu usage is about 3-4%.
Did you try with faster storage (raid10, ssd, etc...)?