That move will put Intel in direct competition with Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co., two Asian companies that have passed it in the rankings of chipmakers by size and capabilities. Intel is taking other steps to rein in expenses. That includes headcount reductions and slower spending on new plants part of an effort to save $3 billion annually. That figure will swell to much as $10 billion a year by the end of 2025, the company has said. Intel, which informed staff of the latest cutbacks earlier Tuesday, is also reducing the match it offers to pension contributions. The Santa Clara, California-based company thanked employees for their patience and commitment. Hourly workers and employees below the seventh tier in the company's system won't be affected.