Thread regarding GlobalFoundries layoffs

While GF wastes money making trips to DRS

While GFS wastes money and losing talent. https://youtu.be/sZPtChiIjL4 and https://www.intel.com/content/www/us/en/newsroom/news/intel-announces-next-us-site-landmark-investment-ohio.html#gs.n4i8tn

Guess where are we going to lose people now

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Post ID: @OP+1eUHoQtn

14 replies (most recent on top)

@ Essexjunction observer And it’s back to it’s original evaluation of 25B. For anyone interested in buying GF would be definitely interested in a bad earnings call. Not just profit but the amount of profit and also the margin etc. couple of weeks weeks and the at will be out of the bag

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Post ID: @3fga+1eUHoQtn

"...current evaluation is 28B"-
imaging that a $28B cap public company announced a massive, 90% Buyback program- and now play it in reverse 😉

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Post ID: @3dgy+1eUHoQtn

@ Essexjunction observer The current evaluation is 28B and if the investors see BS during the next earnings call in feb it’s going to tank even more. In my view intel is interested in gf purely for their foundry business. I am sure intel is still interested that way they can use the existing GF footprint for their foundry business. Their prime interest would be Fab 8, DRS and SGP. For GF with the cash crunch they have no path other than just installing tools. Even after the chips act they would not have enough money to put a new fab primarily because of the uncertainty of what technology are they going to make. Intel has clear plan on what technologies go where and in which fab

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Post ID: @2tec+1eUHoQtn

to "@wov" "... CEO/Chuck Schumer relationship meant nothing"
Not a good week for TC & Chuck - one blow after another.
Watch GFS stock plunge - soon INT's $25B offer will look like the best way out for Mubadala, so TC &SLT may not see their equity packages fully vested, but Golden Parachutes instead.
All the mandates, Equity, Equality & Diversity kissing to Chuck & progressives are gone in vain.

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Post ID: @2oll+1eUHoQtn

What do you think will happen when the make contractors also get the VX or an exemption?
Any word on if the contractors will bend the knee?

Hypothetically it is 5-10% of the US population. That is a LOT of skilled technicians and engineers. Does GF not think this won't impact production? Many of the teams now struggle with workload. Reduce your workforce another 5-10% and give people sh---y raises again after 2x record breaking years that 5-10% will easily become 20%. That is crippling. I am really surprised no one in management has said anything. Pretty sure our attrition is above 10% already. You can not just replace bodies. Experience is the key to manufacturing. This next all hands will be interesting bring snacks.

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Post ID: @2sud+1eUHoQtn

I’m just here for the new kiosks in cafe………….SMFH

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Post ID: @1nka+1eUHoQtn

i went to a interview with a public listed company and the interviewer ask.. so GF went public , did you guys get any RSUs from the company?? .. i said no.. zero shares .. unless we buy via ESPP and they do a one time 50 shares RSU . the interviewer chuckled and told me they have a sign on bonus of 5K worth of RSU and thereafter yearly , the successful candidate will be allocated RSU base on performance , with a vesting period of 3 yrs ..

i did well in the interview , waiting for the final panel ..

Seriously GF sucks ..

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Post ID: @qsk+1eUHoQtn

Haha this is fantastic blow to the egos of GF management. All talks and no actions taken ever. In one way I feel bad for TC probably not his fault that he does not have money to spend is living in a cash crunch. The board because of their greed could not sell GF and TC has to feel the brunt of it. But again TC decides to stick around all because of his ego and arrogance as CEO because he does not have anything to fall upon after leaving GF. It’s always to look at both sides of the coin.

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Post ID: @wgl+1eUHoQtn

@tdy

What are you even talking about? The point is this is a GF-created issue. After court rulings and injunctions, GF doesn’t have to move forward with a mandate, but they are, on their own, as a private company. This has nothing to do with following outside rules beyond GF.

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Post ID: @egz+1eUHoQtn

Meanwhile GF decides that we are not going to expand 8.2. This was an opportunity to make money by selling Fab 8 to intel so much for the BS strategy

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Post ID: @xxp+1eUHoQtn

@wov
Anyone in non compliance should be fired as previously stated in GF covid mandate. You cannot allow anyone o choose which rules to follow and try to bully their way. Not acceptable. If this GF mandate gets ignored then can we start smoking ma------a and drinking alcohol onsite since they're legal. .

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Post ID: @tdy+1eUHoQtn

Intel Announces Next US Site with Landmark Investment in Ohio
Intel will invest more than $20 billion to build two new factories and to establish a new epicenter for advanced chipmaking in the Midwest.

LICKING COUNTY, Ohio, Jan. 21, 2022 – Intel today announced plans for an initial investment of more than $20 billion in the construction of two new leading-edge chip factories in Ohio. The investment will help boost production to meet the surging demand for advanced semiconductors, powering a new generation of innovative products from Intel and serving the needs of foundry customers as part of the company’s IDM 2.0 strategy. To support the development of the new site, Intel pledged an additional $100 million toward partnerships with educational institutions to build a pipeline of talent and bolster research programs in the region.

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Post ID: @krp+1eUHoQtn

Over 10% noncompliance in Malta, alone, on their mandate, and this is for people who are staying at Global, while others are leaving. Makes no sense what this company is doing, especially with the changing narrative on the pandemic.

Oh, and the White House teamed up with Intel for the announcement/investment of the Intel Columbus fab. Looks like our CEO/Chuck Schumer relationship meant nothing, with all the pandering that occurred. Saratoga Chips, anyone?

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Post ID: @wov+1eUHoQtn

They will be losing much more talent March 31 when they fire people for being unvaccinated or failing to submit and exemption.
They had a management call today from what I understand and there was quite a few managers on that call that had people in non compliance.
So that is hundreds that will be let go in March across fabs that are already struggling for talent. You would think they would take a page from GE and learn that can't make product without technicians. Meanwhile upper managers have been leaving on a weekly basis.
Wonder if anyone started a lawsuit yet.

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Post ID: @ksc+1eUHoQtn

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