On Air Now

Listen

Listen Live Now » 101.9 FM Central Wisconsin

Weather

Current Conditions(Wausau,WI 54403)

More Weather »
64° Feels Like: 64°
Wind: WSW 5 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Scattered Thunderstorms 75°

Tonight

Clear 53°

Tomorrow

Mostly Sunny 79°

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