Intel is preparing to announce plans to cut over 20% of its workforce this week in an attempt to reduce costs and cut down bureaucracy at the chipmaker, reports Bloomberg, citing a source with knowledge of the matter. The move to eliminate over 20,000 positions from Intel is part of the company's revival plan, designed by Chief Executive Lip-Bu Tan.
The restructuring aims to simplify operations and refocus the company on an engineering-driven culture after prolonged business challenges, according to the report. Lip-Bu Tan, who took leadership of the company last month, is pushing to purge excessive layers of management, eliminate redundant positions, and shift Intel back toward a product-focused approach while concentrating on key projects.
