Renesas (RNECY.PK) plunged 10.6% in Tokyo following reports that it intends to slash at least...

|About: Renesas Electronics Corp ADR (RNECY)|By:, SA News Editor

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.