Power chip companies Renesas (RNECY), Infineon (IFNNY), and others are cutting jobs and spending, as disappointing EV market growth leaves them saddled with excess capacity, Nikkei Asia’s Ryo Mukano and Yuka Konishi report. Layoffs at Renesas could run “into the hundreds,” and the company has postponed large-scale power semiconductor production that was expected to start early this year, according to the report.
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