TOKYO -- Japanese chipmaker Renesas Electronics will cut almost 1,000 workers from its payrolls at the end of June, Nikkei has learned, as part of a pivot abroad to compensate for a shrinking domestic market.
The company will offer early retirement packages mostly to employees in Japan, expected to focus on back-office, engineering and other staff aged 35 or older. These cutbacks, equivalent to 5% of Renesas' groupwide workforce, mark its first voluntary retirement program since December 2014, when it fielded 1,800 takers.
