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TMCNet:  Renesas to seek applicants for early retirement in development sector

[July 09, 2014]

Renesas to seek applicants for early retirement in development sector

(Japan Economic Newswire Via Acquire Media NewsEdge) Struggling chip maker Renesas Electronics Corp. said Wednesday it will solicit applicants for early retirement in August in the design and development sector as it plans to realign the segment.

Although the company has not set a specific figure, around 800 employees who would not be able to move to other sections are expected to be targeted.

The company will solicit applications for retirement on Sept. 30 from Aug. 7 to 21 as part of its plan to slash around 5,400 jobs by the end of March 2016 to accelerate restructuring.

On Aug. 1, Renesas will realign its design and development segment and those of three subsidiaries into hardware development, software development and technical assistance functions.

In March, 696 employees applied for the company's early retirement scheme introduced to streamline the manufacturing section.

(c) 2014 Kyodo News

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