"We are done here, no more layoffs".
16 replies (most recent on top)
Any of us who have been through layoffs in this industry know that they are rarely composed of "dead weight and low performers". Many times it is personal because some engineer p-ss-d off some manager along the way. Also, there is a lot of "horse trading" that goes on with people's lives which is stupid and just makes morale worse. Everyone at GF knows of plenty of people that should have been let go but got moved to some other group due to some kind intervention/trade up the management chain. "Gee, by no dubious terms did I save your job, pal," A manager was heard saying.
You cannot generalize who is " dead weight" and low performers , it's insulting . Sounds like an ego trip. My Husband and his team were the best that EF had, He was there for 34 years. They had many patents pending for both for IBM and GloFo. Unfortunately for them , they were in the Lab attached to the 7 nm project and we're all let go. Please refrain from Generalizing .There were good ,very talented people that were laid off.
As an engineer, my peers are quite inadequate and 8-5 is a myth :). As previous poster mentioned, most companies are cutting dead weight. It’s business. Global should reconsider firing the low performers without giving them another 1-2 years to improve.
Uhh...doesn't the SLT JUST WORK FOR A BUSINESS NOT OWN ONE??!?!?!!?
Why would we be homeless? Globalfoundries is the only company in the world? The issue isn't the layoffs. The Semiconductor industry is going through some big growth now and who is having the BIG layoffs? That would be companies that are POORLY managed...that's the point.
Also, who's getting a free ride? Also, by your own damn logic, you techs wouldn't have jobs if it wasn't for the engineers keeping the everything moving. I don't know of any semiconductor company that is dominated by techs - who aren't as hard working as they think, considering most of us engineers were pulling 60 hour weeks and NOT GETTING a dime for overtime like the crybaby techs---waaaaaaa..I had to work 2 extra hours this week pay me 1.5x.......waaaaaaaa...or I'll tell the state....
Oh man, “how professionally they’ve it executed…” - it’s so graphic!
in “McKonsult ‘horrified’ executioners have used their report in crackdown” said bone saw was used to slice thru flesh. On the Halloween eve, just picture SLT dressed as … themselves running around with the tool of choice.
TC seems to do a good job of "scrubbing" his history on the web (I am sure GF pays a lot to some consulting firm for that.) However, there is a still a lot out there if you are willing to pull the pieces together. Look at Tom's CV on the LinkedIn, he was "President/COO" of Ausra from Sep 2009 to Mar 2010. OK, so then take a look at this posting:
Interesting soon after taking over operations at Ausra, they kill their $500M project and this led to selling the company:
And this little article from when he joined Soraa (another failure):
"Dr. Caulfield has held numerous executive positions in publicly traded and private companies including serving as COO of Ausra, Inc. where he led the repositioning of the company that ultimately led to a strategic partner acquisition." (read strategic partner acquisition as being "sold")
Does all this sound familiar? Plus ca change, plus c'est le meme chose....Deja vu...chocolate mousse..
That reminded about the link shared by teammate (and confirmed by the NY Times), about a deep-pocket patron who hired infamous Mc-Konsult firm to analyze the situation, and how his leaders draw the conclusion from Mc-K report and came up with the quick and simplest “fix”, and how professionally they’ve it executed. Here’s this link:
Now Mc-Konsultant scared about unsavory reputation; the situation got much worst; investigation ordered on the gang of the executioners including those who planned the action, and those who gave the orders. Regretfully, irreversible damage has been done. Stupid is, stupid does – end of the story.
layoffs or not, exodus has started...
Every single time they did a "resource action" at IBM, they promised it was the last. Malta is run by the same people who destroyed East Fishkill. Mubadala has wisened up and pulled funding. Too bad they haven't realized the real problem is their management team. Failures at Fishkill and failures at Malta.
Funny thing...at my previous semiconductor job, they brought in McF--me to "look at efficiency improvements" (wasn't that a line from Office Space?). Of course, what it came down to was some major layoffs of mostly skilled, experienced technical engineers and managers were left well in place (except a couple of problematic fight-the-system sacrificial lambs). We had an "all-hands" post mortem meeting with our management where they actually allowed anonymous questions (shoebox thing). One question was "Why were so many engineers let go but most of the managers still in place if there are so many less people to manage?" Our director, with a straight face and directly out of the McK playbook, "We kept the managers in place so we are ready to grow again when market conditions get better." Ri-i-i-i-i-ght, because more managers always lead to growth. Wow...never trusted him again. He had become one of them. We never grew much (hint, it wasn't the "market" that was causing our sales to fall) and the management continued to stay in place while the engineers left by either layoff or attrition. It became more and more top heavy when it was clear that the company was up for sale and managers had to protect themselves and their RSUs. You had one group that had 3 directors, 7 managers for about 30 employees by the time they got sold off.
I think the whole "power corrupts" thing is so true after so many years in the industry seeing people who were once good technical people becoming a**hole, cut-throat, lying, selfish managers. (Though I am not implying that TC, RS, etc were EVER good technical people, I think they were all corrupt to begin with, it is others at mid-manager level that I speak of.)
By the time they'll be done with layoffs, only management and HR will be left to run a lean and efficient engineering company.
Nothing much has changed...More Senior VPs. More promotions to the sycophants. As F'ed up as ever. Liars...all of them, including Ron.
Yes, you read it here on Thelayoff.com !!
He definitely didn't come off as confident as he usually does. I still think Malta is fine for a couple of years.
Short answer: NO!
You just need to parse it properly:
"We are done here? No! More Layoffs."
That is believable.
I believe that the Malta site is done. It will be sold or closed. More layoffs? Absolutely. Probably in early 2019.