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

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.The move is part of a bid to streamline management and rebuild an engineering-driven culture,

Intel is planning to slash 20% of its workforce, or fully one in five employees. According to Bloomberg, Intel will announce the move later this week when it details its latest financial figures on Thursday.