Renesas planning major job cuts, fund-raising -sources

TOKYO May 25 (Reuters) - Japan's Renesas Electronics Corp is planning a sweeping restructuring far more extensive than the 50 billion yen ($630 million) capital raising and 6,000 job cuts reported by Japanese media early this week, sources familiar with the situation said on Friday.

They said the plan had not been finalised, although one added that time was running out for the company, which has racked up heavy losses as it struggles to compete with aggressive foreign rivals.

A Renesas spokeswoman said the company had not issued any release on the matter and could not comment.