Chip giant Intel is apparently cutting 20 per cent of its staff. 

That's according to Bloomberg, which reports that the aim of these layoffs is to reduce bureaucracy at the firm. This comes in the wake of a round of redundancies that saw 15,000 roles cut. 

Since, Intel has confirmed that there are going to be job cuts but has not shared how many people are going to be affected. Said cuts are going to start in Q2. 

"We need to get back to our roots and empower our engineers," new CEO Lip-Bu Tan wrote. 

"That’s why I elevated our core engineering functions to the executive team. And many of the changes we will be driving are designed to make engineers more productive by removing burdensome workflows and processes that slow down the pace of innovation.

"To make necessary investments in our engineering talent and technology roadmaps, we need to find new ways to reduce our costs. While we have taken significant actions in the last year, our current cost structure is still well above competitive benchmarks. With that in mind, we have reduced our operating expense and capital spending targets going forward, which I will discuss during our investor call this afternoon."