Renesas' restructuring to continue

09/2/2014 | Reuters · Bloomberg

Renesas Electronics Chairman and CEO Hisao Sakuta told reporters that the loss-ridden chipmaker has implemented about 60% of its restructuring plan and more job cuts may be necessary. Through attrition and early retirement, Renesas has reduced its headcount from 42,800 to 27,200 over two years. Sakuta questioned whether the Innovation Network Corp. of Japan fund, which owns 69% of Renesas, should have such a large controlling stake in the company.

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