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TOKYO, May 26 – Japanese chipmaker Renesas Electronics Corp plans to sell off loss-making operations and cut its payroll by at least 12,000, a source close to the matter said today, as the company battles high costs and nimbler foreign rivals.Sources also confirmed that Renesas, the world’s largest maker of microcontroller chips for cars, aims to ... Read more at http://www.themalaysianinsider.com/business/article/renesas-aims-to-sell-chip-plant-shed-12000-jobs-source/