A substantial lay off of employees is set to occur at Intel. The California-based technology company reportedly will slash more than 20% of its workforce. The company’s layoffs are part of a larger strategy to refocus on an engineering-driven culture, Reuters reported, citing Bloomberg.

Intel CEO Lip-Bu Tan plans to cut 20% of the company's workforce, according to a report by Bloomberg Tuesday. The layoffs are an effort to cut bureaucracy and rebuild "an engineering-driven culture," according to the story,

Intel is set to unveil plans this week to slash more than 20% of its workforce, in a move to streamline operations and reduce bureaucratic inefficiencies, Bloomberg News reported on Tuesday, citing a person with knowledge of the matter.