Renesas Says May Cut More Jobs, But Restructuring Past Halfway
Japanese chipmaker Renesas Electronics may cut more jobs as it finishes a massive restructuring that is focusing its business on the automotive and industrial sectors and has pulled it back into the black after years of losses. Renesas Chairman and CEO Hisao Sakuta told a media round table on Tuesday that remaining steps will focus on selling factories and exiting businesses announced in a 2012 restructuring framework, updated a year ago, with about 40 percent of the plan still to be implemented. Renesas said last month it expected a 28 billion yen net profit for the six months to end-September, marking its first half-year profit since 2008.
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