Retail in Asia

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Japan’s Renesas looks to shed 6,000 jobs

Japan’s Renesas Electronics Corp. is considering shedding 5,000 to 6,000 jobs, or about 12 to 14 percent of its workforce of 42,000, sources said on Tuesday.

The struggling chipmaker plans to carry out the cut mainly through voluntary retirement and attrition, the sources said.

The company may ask three major shareholders – Hitachi Ltd., Mitsubishi Electric Corp. and NEC Corp. – for an additional investment of JPY50 billion to JPY100b to strengthen its financial base, the sources said.