Intel to slash 20% of its workforce as part of a major rejig plan to curtail internal bureaucracy, report claims

Intel is preparing to unveil plans to prune more than 20% of its workforce, a move that the storied chipmaker believes would reduce bureaucracy, according to a report by Bloomberg News, citing a person with knowledge of the matter. According to the report, the significant job cuts are a part of Intel’s plan to streamline management and rebuild an engineering-driven culture. This move would be the first major organisational restructuring under the newly appointed CEO, Lip-Bu Tan.