Renesas Electronics Announces Results of Early Retirement Program

27 Sep 2013

TOKYO, Japan, September 27, 2013 — Renesas Electronics Corporation (TSE: 6723), a premier supplier of advanced semiconductor solutions, today announced the results of its early retirement program for employees in Japan, announced on March 28, 2013, with details as follows.

 

1. Outline of the early retirement program

Eligibility:
Employees of Renesas Electronics Corporation and its subsidiaries in Japan who are both 40 years old or older.
Expected # of applicants:
Just over 3,000 applicants
Application period:
August 1, 2013 to August 29, 2013 and September 11, 2013 to September 18, 2013
Retirement date:
September 30, 2013
Benefits:
Renesas Electronics will offer special incentives in addition to their retirement payment to employees voluntarily taking early retirement. In addition, outplacement support will be provided through an outside agency for those who request it.

2. Results

2,316 applicants *Total of approximately 3,000 employees will be reduced through transferring to other companies and attrition that occurred after March 28, 2013 in addition to this early retirement program.

3. Impact on Renesas Electronics' financial forecasts

  Impact on Renesas Electronics financial forecasts for the fiscal year ending March 31, 2014 has not been confirmed. Renesas will announce a revision to its forecast when necessary.

 

About Renesas Electronics Corporation

Renesas Electronics Corporation (TSE: 6723) delivers trusted embedded design innovation with complete semiconductor solutions that enable billions of connected, intelligent devices to enhance the way people work and live. A global leader in microcontrollers, analog, power, and SoC products, Renesas provides comprehensive solutions for a broad range of automotive, industrial, home electronics, office automation, and information communication technology applications that help shape a limitless future. Learn more at renesas.com.


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