Technology company Intel confirmed its restructuring plans, including laying off an undetermined number of employees, starting in the second quarter of this year and will last for the next few months.
In a memo, Intel CEO Lip-Bu Tan did not detail the scale of the job cuts, but stressed that the move was aimed at cutting "unnecessary bureaucracy" and streamlining the middle management layer, as reported by Engadget on Monday.
“I believe that the best leaders are those who achieve the most with the least amount of people. We will implement this mindset across the company, including empowering our best talent to make decisions and take responsibility for key priorities,” Tan said.
It is reported that around 20 percent of the company's 108,900 employees could be affected by this restructuring.
