TOKYO, Japan, March 19, 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 February 19, 2014, with details as follows.
1. Outline of the early retirement program
- Employees of Renesas Electronics Corporation who belong to the Production and Technology Unit
- Employees of Renesas Electronics Corporation who do not belong to the Production and Technology Unit but will be transferred as a result of the reorganization
- Employees of Renesas Electronics subsidiaries in Japan subject to the reorganization
- # of applicants:
- No upper limit or target had been placed
- Application period:
- February 28, 2014 to March 7, 2014
- Retirement date:
- March 31, 2014
- 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.
696 applicants3. Impact on Renesas Electronics' financial outlook
As a result of implementing the early retirement program, Renesas Electronics expects to incur a special loss of approximately 3.0 billion yen in the fourth quarter ending March 31, 2014. The cost of personnel is expected to decline by 5.0 billion yen per year with this result.
The impact on Renesas Electronics' business performance has already been incorporated into the forecasts for the fiscal year ending March 31, 2014 announced on February 6, 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.