Intel said today it will lay-off 1,000 managers, or about 1% of its work force, as it seeks to streamline its business amid tough competition in the IT sector.

The world's biggest chipmaker already flagged in April that it would conduct a big review of its operations.

Last month, Intel said it would sell its money-losing communications chip business to Marvell Technology Group for $600m as it refocused on personal computer processors and related chips.

Intel did not disclose how much it would save with the lay-offs or where they would take place but added that the company would give more details during its quarterly earnings report next week.