Renesas to Shed Up to 900 Jobs in Japan

Economy

Tokyo, Feb. 6 (Jiji Press)--Major Japanese chipmaker Renesas Electronics Corp. <6723> plans to shed 700 to 900 domestic jobs through a voluntary redundancy program at the end of June, informed sources have said.

Renesas is considering the restructuring step as demand at home has been shrinking amid moves by client companies, including automakers, to expand production overseas, the sources said.

The firm cut some 1,700 jobs in Japan in January 2015.

The upcoming program is expected to cover workers aged 35 or over at back-office sections, such as the general and personnel affairs divisions, according to the sources.

Renesas is in talks with its labor union with the aim of launching the program in May, the sources said.

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Jiji Press