Intel to Announce Plans This Week to Cut Over 20% of Staff (3)

Intel Corp. is poised to announce plans this week to cut more than 20% of its staff, aiming to eliminate bureaucracy at the struggling chipmaker, according to a person with knowledge of the matter.

The move is part of a bid to streamline management and rebuild an engineering-driven culture, the person said, asking not to be identified because the plans are private. It would be the first major restructuring under new Chief Executive Officer Lip-Bu Tan, who took the helm last month.

Chip veteran Lip-Bu Tan was named Intel’s CEO in March.

Source: Businesswire

The cutbacks follow an effort last year to slash about 15,000 jobs — a round of ...