Bu Tan, announced that it's laying off staff and tightening its return-to-office rule as the Bay Area giant tries to right its course.

Intel plans workforce cuts and a tighter return-to-work policy, but the company, a major Chandler employer, didn't announce specific layoff numbers.

The chipmaker’s new boss, Lip-Bu Tan, told employees that Intel needs to remove “organizational complexity” and become more engineer focused. Yesterday was an eventful day for shareholders and employees of Intel Corp.