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,

The cutbacks could be devastating in Oregon. The chipmaker is the state's largest employer and makes Oregon's most valuable product.

This would be the second mass layoff at the company in less than a year. 15,000 jobs were cut in August as part of cost-reduction measures.