Thread regarding GlobalFoundries layoffs

Rumored manager strike coming

Managers are targeted for next round of layoffs and are going on strike first week of December - friend is tech assistant to a director

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Post ID: @WlCc9BR

14 replies (most recent on top)

How did the manager strike go? opps....dead wrong again I guess.

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Post ID: @WlCc9BR-cray

Greener pastures do exist, "bro". I got a better job in a lower-cost of living area that isn't a frozen wasteland. I'm happy, my family is happy, and I'll be happily employed and enjoying the sun this winter, while you'll be unemployed soon, and digging out from the latest blizzard. Other semiconductor jobs are out there if you want them. I'm thinking you probably can't get one, Mr. Pivot. That's why you're angry at all those who are telling the truth.

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Post ID: @WlCc9BR-bivh

Wow, rant much? That was a novel. So you're still employed and complaining about having no job in an area you didn't want to move to. And yet....you're still employed and collecting a paycheck. Your kids are still in school and are good. Why you so mad bro? There are no more layoffs coming, its not happening. In fact we are hiring again. Your job is safe. Yet you biiitcch and moan about it not being safe. Is that your only problem? haha its a pretty lame thing to be complaining about when you still have a job. Then you go on to say you weren't happy at the last company. Well guess what, you'll not be happy at the next with your attitude. God just leave already. Who wants some crazy iiiidiiiot walking the halls talking to themselves about greener pastures when no greener pasture exists and they are impossible to satisfy. Nothing works for you so just leave and do us all a favor. You can do it!!!

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Post ID: @WlCc9BR-2xmr

Like I said mo--n, I didn't get laid off and I do not see happy joyful people with rainbows on their cubes singing "Kumbaya, TC is our saviour." Also, you are the one that the bonus was going to be big because of cutting ALL OF THE SALARIES, now you are claiming it is from "R&D". Not sure what that means, do you mean the wafer starts? OK, but that's not what you claimed it to be and most of the other R&D cost was already "sunk" for the year (MANAGEMENT, bldg/equipment depreciation, materials, etc) so again, epic fail. I would also guess that GF had to make some considerable "remunerations" of some kind to AMD and IBM since those companies sunk over $100M into working with GF on 7LP only to have it sc-apped.

Do you know why people are angry? Because we were brought out to this godforsaken wasteland to be part of a great semiconductor company that was going to take on TSMC and be a leading edge technology foundry. They touted how well they treat their employees and treat them as an asset and don't believe in mass layoffs as a form of cost-cutting (I was told that during my assimilation classes). I was promised a part of the company in form of RSUs which was cancelled 4 months after I arrived. I was told I would get a "good bonus" which had a decent payout maybe 1 of the 4 years I've been at Malta. The place it built on lies and I will admit I was stupid for believing them but I was leaving another sinking ship of a semiconductor company that was acting exactly how GF is acting now.

Also look how the management HID (likely offsite) while all of the 7LP rumours and layoffs were going down. No communication at all, just some stupid (and likely planted) question to TC in a town hall meeting and let the rumours handle the rest of it. Is that the kind of management you think is going to take the company to the next level? Do you see TC walking around Adm1 anymore? He disappeared after the announcement of the 1st layoffs. He's a coward and is afraid to face his employees. We used to see him in the cafeteria getting coffee and chatting with employees. Now he lets rumours do the dirty work and hides in his glass menagerie and just comes out for TV day.

Since the fab is in the middle of an old rocket testing ground with no visible semiconductor company for hundreds of miles: we are stuck with kids in school for the year, a housing market that is in recession due to macroeconomic factors,etc. I will be gone soon enough, just waiting for the right time and the right offer so I don't end up in this same situation again in ID or ME or VA. You will be there until you get the anonymous "1-on-1 Meeting" email (for the smaller layoffs) or the "Project Review Meeting" scheduled with 40 people you don't know (for the larger layoffs).

You still haven't enlightened us all as to what this "big ramp" is that is going to bring in 'UGE revenue in 2019. 2018 was the peak revenue for the fab - get used to it. If you are there, look at the loadings, look at the yields, look at what is coming in for volumes and make up your own mind.

Funny thing is that you have juvenile retorts to everything I say but have yet to show that it is wrong.

(I do not believe you are actually employed there anyhow, I think you got laid off and are just trolling around from Mommy's basement. Please tell us what TC said about McKinsey in his Town Hall meeting following the layoffs.)

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Post ID: @WlCc9BR-1rnr

To the person who said they were being let go, are you a manager? Did they say why they let you go? Fired or laid off?

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Post ID: @WlCc9BR-1thn

Just got notified I’m being let go next Monday. Here we go.

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Post ID: @WlCc9BR-1hfy

"I dont even believe you still work here collecting a paycheck being as angry as you are."

"..but the rest of us still working here are just fine.."

BigPivot, you must be smoking some good stuff to think that people who are there are not angry and just fine. People are very angry, and angry employee is far more damaging to a company than a laid off employee.

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Post ID: @WlCc9BR-1urk

Why are you so mad? You admit we saved 1/3 the massive R&D cost. I dont even believe you still work here collecting a paycheck being as angry as you are. Really sorry about you getting laid off and all but the rest of us still working here are just fine and dont need your word salad rant of negativity. Just move along and get on with your life. Im sure you can find another job. good luck. You can do it!!!

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Post ID: @WlCc9BR-1sdb

Ok, Mr Troll. Biannual bonuses are for the hourly workers only. So I am guessing you are the guy that walks around with the feather duster wiping all of the unused cubes down. The cancelling of the 7nm program was 2/3 of the way through the year and these people have been getting paid FULL SALARY and benefits through this week FOR DOING NOTHING. Then there is the severance that will be getting paid out over the next couple of weeks (which is a week per year of time served at a minimum of 4 weeks). These are HUGE cash outflows for NOTHING. So what have you "saved" by laying off all of these technologists when you are paying them through the end of the year? It seems your logic is clouded by having your nose up the SLTs behind.

Again, what is "ramping"? AMD is proudly moving to 7nm, which means ASPs for 14/12 will start to diminish. Also, revenue at Fab8 is not the problem for GF. In 2015, GF had $5B in sales (if you include IBM) with almost no contribution from Fab8; 2018 is going to be $6B with $2B coming from Fab8. There's a $1B lost there somewhere. So Mubadala has already approved the bonuses for next year, that's pretty damn good considering we've had to drag them kicking and screaming for bonuses ever since I started working for GF. Also, from what I understand, Mubadala will be accounting for the cancellation of 7LP (reduced R&D spend) in the numbers for 2019 bonus (the bonus that will be paid out for 2019 revenue), they actually need to make something off there $12B investment, so good try but epic fail. If things were so damn good like that, it would be IPOing next year.

BTW, id--t, I didn't get laid off.

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Post ID: @WlCc9BR-ilj

Nice guess work but you're wrong again and again and again. This is really getting quite sad how you guys are so angry it clouds any logical thinking. We saved a lot of money in 2018 by canceling 7nm + laying off many high paid research people. We're also moving to a bi-annual bonus system. There will be big bonuses in 2019 as we turn up the crank on cash flow! Sorry you can't be part of that but if it makes you feel any better the big bonus we will be getting next year will go to a good cause. Best of luck and I hope you can be less angry in the future.

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Post ID: @WlCc9BR-lki

OK, BigP, you've outed yourself as a troll once again. How is there going to be a "big bonus" in 2019 when you are just "turning the crank on a big ramp."? That revenue won't be in until 2019, so wouldn't that make it the bonus for 2020? (Unless your an hourly) Also, where is this "big ramp" going to happen? Fab8 is running full (or so we've been told). Are these virtual reality chips? You should know since it seems to be the place that you live.

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Post ID: @WlCc9BR-cid

The managers are treated great at GF just like all the other employees. This rumor is false and doesn't pass the snif test. People like working here, that's the reason they are staying. There will be a good bonus in 2019 because we are turning up the crank on a big ramp. Good things are happening now that we've realigned the company to focus on differentiating our product line. And the Feb layoff rumor is also false. Sorry guys, nice try. Your spiteful fantasy is nothing more than that. I'm sorry you guys got laid off but you really need to move on with your life and stop bashing the hard working employees who enjoy all the benefits of working here. Don't be jealous, be happy and think positive. You can do it!

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Post ID: @WlCc9BR-ohh

Nonsense !

Going on strike only makes sense if work stops when you strike.

In the case of managers , it just frees up more space.

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Post ID: @WlCc9BR-wfs

But they are some managers who really don't have any subordinate reporting them.

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Post ID: @WlCc9BR-ovd

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