Japan's Renesas to Cut Additional 3,000 Jobs

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Japanese chipmaker Renesas Electronics said on Thursday it plans to cut an additional 3,000 to 4,000 jobs in September as it slims down management and its design operations.

(Read More: Japan's Renesas Secures $1.8 Billion Government-Led Bailout)

On top of 7,500 workers that took retirement packages in October, the move would cut Renesas's workforce by roughly 25 percent from March 2012.

(Read More: Japan Chipmaker Renesas Flooded With Buy Orders on Rescue Hopes)

The government-backed Innovation Network Corp of Japan (INCJ) is expected to invest a total of 150 billion yen in Renesas along with a group of customers such as Toyota Motor. The INCJ plans to take control with a two-thirds stake in the chipmaker.

(Read More: History Comes Back to Haunt Japan Electronics Makers)