Mexican Media Brands
Massive New Job Cuts Coming for Renesas Electronics
Japanese chipmaker Renesas Electronics Corp. plans to eliminate 5,400 jobs in Japan by April 2015, The Nikkei reports.
#electronics #workforcedevelopment
Share
Japanese chipmaker Renesas Electronics Corp. plans to eliminate 5,400 jobs in Japan by April 2015, The Nikkei reports.
The company, which was formed in 2010 by the merger of NEC Electronics and Renesas Technology, supplies about 30% of the world's microprocessors. At its peak, the company employed some 48,000 people.
But Renesas has struggled to gain profitability after Japan's massive earthquake in 2011 damaged its facilities, disrupting car production worldwide.
The company cut 7,500 jobs in October 2012. Two months later the government's Innovation Network Corp. spent 138 billion yen ($1.7 billion) for a 69% stake in the company. Eight key customers contributed a combined 12 billion yen ($145 million) to the bailout.
Last June the government installed a new chairman and CEO to lead the restructuring. In August the company said it would close five of its 14 plants in Japan, including its main Tsuruoka plant in Yamagata Prefecture.
RELATED CONTENT
-
Honda Launches Its Latest Fuel Cell Vehicle
If Honda is anything, it is an engine company.
-
Chevy Develops eCOPO Camaro: The Fast and the Electric
The notion that electric vehicles were the sort of thing that well-meaning professors who wear tweed jackets with elbow patches drove in order to help save the environment was pretty much annihilated when Tesla added the Ludicrous+ mode to the Model S which propelled the vehicle from 0 to 60 mph in less than 3 seconds.
-
Volvo: Much Ado About Not Much
Every Volvo launched from 2019 on will have an electric motor.