The company said months ago that they were getting into wifi where margins are higher and so they reinforced everything they have been saying about where the business is going but the revenue miss is all anyone heard.
Restructuring had to be done. Company was only utilizing 50% of the fab and even this was going down as the conversion to ILD allowed even lower utilization. Employee head count was way too high. Company still has 350 people which is probably still 100 too many.