24 Dec 2014
TOKYO, Japan, December 24, 2014 — 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 October 29, 2014, with details as follows.
1. Outline of the early retirement plan
- Among the employees of Renesas Electronics and affiliate companies in Japan who are 35 or older
- All employees required to move from their current residence as a result of the realignment of the design and developments sites are eligible regardless of age
- # of applicants:
- Approximately 1,800
- Application period:
- December 10, 2014 to December 19, 2014
- Retirement date:
- January 31, 2015
- 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.
3. Impact on Renesas Electronics' financial forecasts
Renesas Group expects to record special loss of approximately 7.9 billion yen for the three months ending December 31, 2014. Renesas anticipates the program will result in reduction of annual personnel cost by approximately 14.8 billion yen.
The impact of the early retirement program on Renesas Group's business performance has already been incorporated into the consolidated financial forecasts for the three months ending December 31, 2014, announced on October 29, 2014.
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, infrastructure, and IoT applications that help shape a limitless future. Learn more at renesas.com. Follow us on LinkedIn, Facebook, Twitter, and YouTube.
The content in the press release, including, but not limited to, product prices and specifications, is based on the information as of the date indicated on the document, but may be subject to change without prior notice.