Renesas to close Japanese facilities

With it comes the layoff of 12'000 - 14'000 employees, writes The Yomiuri Shimbun, citing informed sources. The layoffs - if indeed this high - would affect 30% of the currently 42'000 strong workforce. According to the sources, Renesas will close or sell 10 - 12 of its - currently 19 plants in Japan over the next one or two years. Although the specific plants to be eliminated are still under consideration, the sources said facilities that produce system LSIs (large scale integrated circuits) - that were initially owned by NEC Corp. - will likely be targeted. Renesas' flagship plant in Tsuruoka, Yamagata Prefecture, is said to be sold to Taiwan Semiconductor Manufacturing Co.