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.

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.

Intel’s brand-new CEO took a big step in his effort to turn the chipmaker around, slashing costs by shedding 21,000 workers.