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Fujitsu Ltd. has announced a radical restructuring of its semiconductor business that is likely to include major disposals and put 2,000 employees at risk of losing their jobs.

Fujitsu reported a net loss of 79.0 billion yen (about $900 million) on fiscal third-quarter consolidated net sales of 1,048.2 billion yen (about $12 billion).

In September of 2012 Fujitsu was reportedly trying to get out of the semiconductor business (see Fujitsu said to want out of chip business). A key part of the latest announcement is the merger of its system LSI business with that of Panasonic Corp. in the creation of a fabless chip company.

Fujitsu also said it is looking to sell its 300-mm wafer fab at Mie to a foundry.