| ||Thread Tools|
|1st June 2012, 06:36||#1|
Join Date: May 2010
Renesas goes cap in hand to shareholders
Japan's ailing chipmaker Renesas is going cap in hand to its major shareholders, like the company which sounds like a sneeze, Hitachi.
The loss making chipmaker needs to find $1.3 billion to pay for restructuring costs and having looked down the back of the sofa has decided to try and score a bob or two from its mates.
According to the Nikkei, Renesas, which makes microcontroller chips for cars, has posted cumulative net losses of nearly $6 billion over the past seven years.
It is having a devil of a job keeping up with Samsung Electronics who are all locked in an expensive race to build ever smaller and faster chips.
Under the restructuring plan, to be submitted to shareholders Hitachi, Mitsubishi and NEC Corp, Renesas has promised to slash 14,000 jobs and sell its Tsuruoka system-chip factory.
The Yomiuri newspaper claims that Hitachi, Mitsubishi Electric and NEC would hold board meetings on Thursday to think about it.
The Tsuruoka system chip factory and the Renesas Mobile unit, which makes chips for mobile phones, would remove another 3,100 workers from its payroll while the rest of the job losses will come from natural attrition, earthquakes and plague.
|Thread||Thread Starter||Forum||Replies||Last Post|
|Yahoo shareholders want CEO sacked||Stefan Mileschin||WebNews||0||11th May 2012 07:43|
|OEMs Ready USB3.0R-P2-PCIe Add-On Card Based On New Renesas Chipset||Stefan Mileschin||WebNews||0||27th February 2012 07:21|
|Nvidia Announces LTE Partnership with Renesas Mobile and GCT Semiconductor||Stefan Mileschin||WebNews||0||24th February 2012 07:01|
|Disney Alien USB Hand Warmer||Stefan Mileschin||WebNews||0||11th October 2011 06:54|
|$2,899 hand-built PC has unique chassis||jmke||WebNews||0||2nd February 2011 11:56|
|AMD and ATI to ask shareholders for merger approval||jmke||WebNews||0||21st July 2006 21:33|
|Laptop Gamers & LAN Parties Go Hand In Hand||jmke||WebNews||1||13th February 2006 15:07|
|Microsoft allows use of second hand licences||Sidney||WebNews||0||11th November 2005 21:59|
|Good second hand AGP gamingcard||RichBa5tard||In Demand||13||6th October 2005 16:37|
|Second hand laptop shop / trade||Bosw8er||Mad Bargains||6||28th May 2005 19:53|