💨 Abstract

Japanese chipmaker Renesas Electronics plans to cut several hundred jobs in 2025 due to weak demand for its chips. The company aims to reduce less than 5% of its workforce of around 21,000 globally. Regular salary increases have been postponed, and the market is expected to recover only in the second half of 2025, according to a semiconductor distributor in Japan.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖