Intel has certainly made progress on its restructuring initiative to focus on the cloud and the internet of things (IoT), but these key businesses have failed to deliver significant enough growth to boost slowing chip sales. The company reports revenue of $13.5 billion for Q2 2016, which is a three percent increase from the previous year. However, profit for the latest quarter is down by more than half (51 percent) to $1.3 billion, which is primarily a result of high restructuring costs of $1.4 billion. Intel announced its plan to cut 12,000 jobs (11 percent of its global workforce) at… [Continue Reading]