Renesas to cut 5,400 jobs in Japan
Renesas is in talks to cut a fifth of its workforce, according to reports.
The Japanese chip maker, which was bailed out by a state-backed fund in 2012, plans to eliminate about 5,400 jobs by the end of 2015.
The cuts are the latest in a series of restructuring moves by the struggling semiconductor firm.
Most of the reductions are expected to come from administration rather than production.
"We are considering various options, including a plan on staffing to boost profitability, but nothing has been decided," said company spokesperson Taizo Endo.
Renesas, which suffered its eighth consecutive net loss in fiscal 2012, has already undertaken three large scale headcount reductions in Japan, shrinking its current consolidated workforce to 28,000.
In August last year the company announced a restructuring plan that included closing five of its 14 Japanese production sites.
