On Air Now

Listen

Listen Live Now » 106.1 FM Lansing, Michigan

Weather

Current Conditions(Holt,MI 48842)

More Weather »
60° Feels Like: 60°
Wind: NNW 16 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Scattered Thunderstorms 60°

Tonight

Clouds Early/Clearing Late 42°

Tomorrow

Sunny 63°

Alerts

Renesas to post $1.1 billion special loss on job redundancy scheme

TOKYO (Reuters) - Ailing Japanese chipmaker Renesas said on Wednesday that it will post a 85 billion yen ($1.1 billion) extraordinary loss in the July-September quarter after a larger-than-expected number of employees volunteered for its redundancy scheme.

Renesas said about 7,500 employees volunteered to resign with compensation. The firm had aimed to attract about 5,000 workers for the scheme.

The implementation of the scheme will reduce costs by 54 billion yen per year, Renesas said.

($1 = 78.04 Japanese yen)

(Reporting by Shinichi Saoshiro; Editing by Edwina Gibbs)

Comments