Thread regarding GlobalFoundries layoffs

Employee retention

I notice that there is some effort to keep people, but is that enough?
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I would keep looking for a new job even if my pay was significantly increased or I got a big bonus. I don't believe that GF will be able to keep most of the talent because people are also leaving because of the bad atmosphere, and I don't see any improvement there.

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Post ID: @OP+1eFTh4nH

12 replies (most recent on top)

I have worked for better and worse companies.

F8 leadership can not control the 1 thing they have 100% control over, their behavior, especially in large meetings. It shows their lack of discipline. Sad.

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Post ID: @8frk+1eFTh4nH

RSU for all would have been an easy long term cost effective retention win, wether it be greed or incompetence, it was not done.

Giving random increases cost more and did absolutely nothing to improve retention.

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Post ID: @4fcq+1eFTh4nH

@2vtz BLR is a complete failure in my department

out of 4 people, only 1 remains, and they're mediocre at best. The one good person we had left recently. The other two just couldn't cut it and quit.

And trying to hire there is a disaster. We get very few qualified applicants, and when we get to offer, they decline. In some cases they accept and later decline. Maybe disaster is an understatement

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Post ID: @2jgo+1eFTh4nH

@ 1pmj no worries for the senior people leave. The company can move all the non-operation team to BLR and it is much cheaper. Since most of my peers left, I see more and more BLR people take over the works. What they do is copy the issue from one side to another sheet and give you no comments for the report and let you guess. There is no accountability for them, so they don’t have to help you. Turnover, it give you more works to do because one side you have to the daily logistic work and on another side you have to spend more time to explain to them and asking them to help you do the rest next time.

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Post ID: @2vtz+1eFTh4nH

Anecdotally Apple gives almost 1000 shares so does intel and many others. I do not understand other than the pure greed why would GF not give folks RSUs and keep it all to themselves

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Post ID: @2yro+1eFTh4nH

If GF had given 400 free shares ( 50 shares vest every six month) over four years many would have changed decisions.

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Post ID: @2fyn+1eFTh4nH

Lot of opportunities outside. If you are able to clear interview you can demand good pay.Switch will drive my FIRE(financial independence retire early) instead of 10 years can retire in 4 years.

GF had wonderful opportunity to retain talent with shares but they missed it.

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Post ID: @2slb+1eFTh4nH

I agree it’s the tenured people leaving mostly now

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Post ID: @1uyl+1eFTh4nH

agreeing with @1tqj... anecdotally, I've seen way more mid/mid-senior people leave over the past year than other periods of time

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Post ID: @1pmj+1eFTh4nH

@1hpb+1eFTh4nH I disagree the fresh folks are leaving because they get higher after a couple of years of experience. Recently there have been a lot of experienced folks leaving primarily because of incompetence at higher levels. Tim and his immediate folks have the right intentions but the politics starts at the senior director levels and below where there is a lack of accountability.

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Post ID: @1tqj+1eFTh4nH

GlobalFoundries has had a high employee turnover rate since I've been here, over 8 years. Yet the company marches on, ships wafers and expands. It's a tough industry. Many of those that stay are industry veterans many of those that leave are recent grads...They get a taste of the industry and decide to move on. If you are unhappy, find something else. Follow your heart and mind. GF is my 5th company in the industry since 95', I've worked for worse companies and better companies.

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Post ID: @1hpb+1eFTh4nH

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