TOKYO, Japan, February 24, 2011 — 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 27, 2010, with details as follows.
1. Outline of the early retirement program
2. Results
1487 applicants
3. Impact on Renesas Electronics' financial forecasts
The supplemental payments that are part of the early retirement program are expected to total approximately 20.0 billion yen. This figure is within the scope of expenses forecasted for the fiscal year ending March 31, 2011, and therefore Renesas Electronics will not change its consolidated forecasts for the current fiscal year.
As a result of implementing the early retirement program, the cost of personnel for the next fiscal year is expected to decline by 13.0 billion yen on a consolidated basis, provided that salary and bonus levels remain on par with the current fiscal year.
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.
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