New Delhi, April 30 -- Big Tech firm Intel Corporation's Chief Executive Officer (CEO), Lip-Bu Tan, on Wednesday, April 30, announced his key restructuring plans for the chipmaking giant and hinted at the upcoming layoff, according to an announcement on the official website.

Lip-Bu Tan said in his statement that the company plans to focus its operations on its engineering works, which are creating 'unnecessary bureaucracy' that is slowing down the firm.

"I've been surprised to learn that, in recent years, the most important KPI for many managers at Intel has been the size of their teams. Going forward, this will not be the case," said the Intel CEO, highlighting this thought process that the best leaders will get work done by fewer peop...