Thread regarding GlobalFoundries layoffs

At an engineering level, college grads are the safest due to lower pay scale...

GF is not about growing the business. It is about capital extraction from Mubadala and infinitum (although Mubadala has caught on finally) and handing out leadership positions to the IBMers with fat bonus targets.

The layoffs targeted experienced technical people because of their higher pay and therefore higher bonuses paid to management based on those. ost savings.

At an engineering level, college grads are the safest due to lower pay scale, although they also get hired with enflated titles (which in the rest of the industry would take years and years to get), but at lower pay. The whole place is smoke and mirrors.

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And yet, the inflated titles did not go with the kind of salaries you'd expect with such a job title. In other words, lots of window dressing just like with the business performance they've been delivering.

Post ID: @VFfPDLT-3psi

I actually had one of the ex-IBMers tell me that they DESERVED the inflated job titles since, after all, they were from IBM. Like those of us that worked at other places and joined GF were just some kind of lowlife ignorant mo--ns that needed IBM. Yeah, how'd that work out? Funny he got laid off in August and I didn't, and since then, I've gotten another job and he's still looking. GO IBM!!!

Post ID: @VFfPDLT-1gqq

You're absolutely right.

When IBM was merged with GF, absurdly inflated job titles were given to former IBMMers . Deputy Directors / PMTS even Directors / DMTS became common. None of it made sense to an already top heavy organization.

In one particularly b---s--- case, a FRESH grad who former worked in GF but joined IBM before the merger was given a job title of Grade 8 Manager after the merger !!!

Post ID: @VFfPDLT-1hym

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