<p>Intel is set to unveil plans this week to slash more than 20% of its workforce, targeting bureaucratic inefficiencies at the struggling chipmaker, <em>Bloomberg News</em> reported on Tuesday, citing a person with knowledge of the matter.</p><p>The layoffs are part of a broader strategy to streamline management and refocus on an engineering-driven culture, the report said.</p><p>Intel did not immediately respond to a <em>Reuters</em> request for comment.</p><p>The layoffs would be the first after chipmaker's new CEO, Lip-Bu Tan, took the top job last month to turn around the venerable Silicon Valley chipmaker after years of problems.</p><p>Last week, <em>Reuters</em> reported that Tan was restructuring the company by flattening its leadership team, with key chip groups now reporting directly to him.</p>
<p>Intel is set to unveil plans this week to slash more than 20% of its workforce, targeting bureaucratic inefficiencies at the struggling chipmaker, <em>Bloomberg News</em> reported on Tuesday, citing a person with knowledge of the matter.</p><p>The layoffs are part of a broader strategy to streamline management and refocus on an engineering-driven culture, the report said.</p><p>Intel did not immediately respond to a <em>Reuters</em> request for comment.</p><p>The layoffs would be the first after chipmaker's new CEO, Lip-Bu Tan, took the top job last month to turn around the venerable Silicon Valley chipmaker after years of problems.</p><p>Last week, <em>Reuters</em> reported that Tan was restructuring the company by flattening its leadership team, with key chip groups now reporting directly to him.</p>