Renesas Plans to Eliminate More Than 3,000 Additional Jobs
This article is for subscribers only.
Renesas Electronics Corp., the ailing Japanese chipmaker, plans to cut more than 3,000 additional jobs as it prepares to raise at least 150 billion yen ($1.7 billion) from a government-backed fund and customers.
Renesas began talks with labor unions today and plans to eliminate the positions through buyouts by Sept. 30, the Kawasaki-based company said in a statement. No upper limit for buyout applications has been set, and the impact on earnings hasn’t been determined, Renesas said.