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© alexey utemov dreamstime.com Business | February 07, 2019

Report: Renesas to lay off 1’000 employees

The Japanese chipmaker is reportedly looking to reduce its workforce by almost 1’000 employees by the end of June, as the company is trying compensate for a shrinking domestic market.
Nikkei Asian Review has learned that the company is planning on offering early retirement packages, mainly to its Japanese employees, focused on back-office, engineering and other staff all aged 35 or older. This reduction is said to be equivalent to about 5% of the company’s groupwide workforce and is also the first voluntary retirement program since 2014 when 1’8000 chose to take up the company offer. As reported by Nikkei, the company has been reporting annual profits ever since fiscal 2014, but the company been continuing to restructure and optimise its operations; just like we say in June when the company said it would close – and consolidate – its Yamaguchi factory and a portion the silicon production line of the Shiga factory. However, Japan’s share of the semiconductor market globally has been decreasing over the past decade and now the country hold less than half of what it did in the early 2000s. With that in mind, these moves can be viewed as part of a change in corporate focus.
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February 20 2019 12:04 pm V12.2.3-1