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.

Intel Corp. could lay off 20% of its workforce, according to unconfirmed reports. The company, with a Chandler campus, is a major Arizona employer.

According to a new story from Bloomberg, Intel is set to announce a massive 20 percent reduction in its workforce. This would mark the second time in less than a year that the company laid off employees. In August 2024, Intel cut 15,000 workers. After that round of layoffs, the computing giant had roughly 108,900 employees at the end of 2024.