SANTA CLARA (US), April 23 -- Intel Corporation is reportedly preparing to cut more than 20 per cent of its workforce this week in a major restructuring effort aimed at eliminating bureaucracy and restoring its engineering-driven culture.

Citing a source with knowledge of the plans, Bloomberg reported today that the initiative marks the first significant shake-up under new Chief Executive Officer Lip-Bu Tan, who assumed the role just last month.

These upcoming cuts follow last year's round of layoffs, which saw Intel eliminate about 15,000 jobs, bringing its headcount down to 108,900 at the end of 2024 from 124,800 the year before.

Intel has reportedly declined to comment on the reported plans.

According to the report, Tan is aiming t...