Renesas (RNECY.PK) plunged 10.6% in Tokyo following reports that it intends to slash at least 12,000 jobs, sell loss-making operations, and raise ¥100 B ($1.26B) in fresh capital. Renesas said today that it would outsource the production of its high-end chips to Taiwan's TSMC, which may buy a Renesas fab.
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