Japan’s Renesas Electronics to slash jobs amid weak chip demand, Nikkei reports
(Reuters) – Japanese chipmaker Renesas Electronics will cut several hundred of jobs in 2025 due to sluggish demand for a wide range of its chips, Nikkei reported on Wednesday.
The company informed employees of its plans to eliminate less than 5% of its roughly 21,000-strong workforce in Japan and abroad, Nikkei’s report said.
Renesas also announced that regular salary increases, which were scheduled for this spring, have been postponed, the report added.
The report said Renesas’ manufacturing utilization decreased from over 40% in the July-September quarter to about 30% in the October-December quarter due to weak demand.
A semiconductor distributor in Japan said “the market will not recover until at least the second half of 2025,” according to Nikkei’s report.
Renesas did not immediately respond to Reuters’ request for comment.
(Reporting by Adwitiya Srivastava in Bengaluru; Editing by Shailesh Kuber and Shreya Biswas)
Related
A top recruiter says sports marketing roles are hot right…
Jobs are opening up in the sports industry as teams expand and money flows into the industry.Excel Search &
Public employees and the private job market: Where will fired…
Fired federal workers are looking at what their futures hold. One question that's come up: Can they find similar salaries and benefits in the private sector?
Mortgage and refinance rates today, March 8, 2025: Rates fall…
After two days of increases, mortgage rates are back down again today. According to Zillow, the average 30-year fixed rate has decreased by four basis points t
U.S. economy adds jobs as federal layoffs and rising unemployment…
Julia Coronado: I think it's too early to say that the U.S. is heading to a recession. Certainly, we have seen the U.S. just continue t
