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Renesas to Restructure Manufacturing Operations
Struggling Japanese chipmaker Renesas Electronics Corp. proposes a complex multi-step plan to merge many of its subsidiaries to cut costs and streamline operations.
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Struggling Japanese chipmaker Renesas Electronics Corp. proposes a complex multi-step plan to merge many of its subsidiaries to cut costs and streamline operations.
Analysts expect the company to post its ninth consecutive annual loss for the current fiscal year ending March 31.
The restructuring will create one unit to handle production (Renesas Semiconductor Manufacturing) and a second for back-end work (Renesas Semiconductor Package & Test Solutions). Renesas says the reorganization will eliminate 1,000 jobs.
The new structure, which affects 14 factories in Japan, will replace a Byzantine organization that involved complex reporting paths and multiple pay structures.
The company also say it intends to refocus its product lineup from chips used in personal electronics to those for industrial equipment, including automotive microcontrollers.
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