WASHINGTON (Reuters) - White House economic adviser Larry Summers is stepping down from his job at the end of the year, the administration said on Tuesday.

The White House said Summers planned to return to his position as professor at Harvard University.

The departure of Summers, director of the White House National Economic Council, would mark a major shakeup in President Barack Obama's economic team. White House budget director Peter Orszag stepped down in July and White House Council of Economic Advisers Chairwoman Christina Romer left her job at the beginning of this month.