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© mellimage-dreamstime.com Electronics Production | January 21, 2013

Renesas' plan to save the company

Renesas issues further details on the company’s rationalisation initiatives, which include an early retierment program.
Renesas has presented to the labor union with a proposal that will see an early retirement incentive program, intended for employees of the company and its consolidated subsidiaries in Japan.

Who is eligible for early retirement?

Main career track employees aged 40 or over - working at Renesas and its consolidated subsidiaries in Japan - have the right to participate in the program.

The maximum number of applicants who will be accepted has not yet been decided, but Renesas expects around 3'000 applicants. Planned retirement date is set to September 30, 2013.

Renesas will also review the position of its subsidiaries within the group. Mergers and restructuring of many of the group's other companies will take place, it said in a statement.

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