On April 23, according to a person familiar with the matter, Intel (INTC.O) will announce plans this week to lay off more than 20% of jobs, aiming to reduce the bureaucratic hierarchy at the troubled chip maker. The person familiar with the matter said the move was to streamline management and rebuild an engineer-led corporate culture. This will be the first major reorganization for new CEO Chen Liwu since taking office last month. The layoffs follow planned layoffs of about 15,000 people last year, which were announced in August last year. As of the end of 2024, Intel's total employee count has shrunk from 124,800 in the previous year to 108,900. (Jin Shi)