Thread regarding GlobalFoundries layoffs

When you put an ex-Mackenzie bean counter in as CEO what do you expect? The strategy is to su-k as much profit out of the company short term and have zero plan for the long- term future. Short term these execs will pad their pockets, stay 2-3 year, leave with millions like the previous CFO. The execs take care of themselves but don't care about any of the employees beneath them!!

@20t There are also long-tenured employees at the manager level and below here who are great at office politics. They’re really stupid.

@20n Across the industry, there is a growing divide between execs and non-execs. It has become “okay” for execs to berate, blame and humiliate non-execs. There are no repercussions for this behavior. HR covers for them and workers have to take it, or be out of a job.

Not saying all execs are bad, but the gaslighting, condescension and fear factor for telling the truth - about anything - are getting worse and worse across tech.

I wish there was a way for regular employees to tell CEOs and board members which of their little darlings are driving talent and company success into the ground. If they knew what was really happening, I think they’d do something about it. I know if it was company, I wouldn’t put up with it for a single minute. Zero tolerance.

@1qe … There’s a few leaders I’m holding out hope for. So far, I have a good impression of Mubadala folks. If there’s anyone who cares about turning the company around and making money (growing, increasing stock price), it’s them.

The lack of technology and fab experience in senior exec level is concerning, though. We may be running older technology, but even one of our closest competitors specializing in older tech nodes, has beat us to advanced packaging and already has it production-ready.

We have catching up to do.

@q6

They are horrible. Worst in the industry. But they also love their big fat pay checks so of course they don’t want things to change. They want to maintain status quo and ride this as long as they can. They act like they know what they are doing and want you to think that and be scared of them. They will actively squash any change before it impact them or ki-l opportunities if it means things will change. But data is data. They su-k and on personal individual level they all know they are frauds

I want to add that they are all absolutely horrible at business based decisions. Like beyond the worst. They are just lacking that extra gear for it because none of the have any formal education in it. They are scientists who had a small amount of obsolete success 10 years ago and were bumped up into these roles. Dont get me wrong they think they are great at business based decisions but proof is in the pudding. I mean just look at us. We are where we are because of their amazing business skills and decisions. But they are very arrogant and cocky. And they have a stranglehold on these positions and will bury any threat they see. It’s toxic.

We should revolt. You and I both know they don’t deserve the role they have. Doesn’t matter how many years they have in. Or who they were the assistant too. Come on let’s be honest they su-k and need to be replaced or downgraded. I don’t even need to say a name it applies across the board. You immediately thought of one of them without saying it’s the head of xxxxx

Very on point. There is no vision. We are on a have been on a slow decline. No way to alter course with our current leadership AND without somehow getting a massive amount of more money infused into our company.

@cb Don’t be ridiculous, you enjoyed it too. Together with that directors.

Another thread mentions that recent layoffs hit directors and above. For regular workers, the problem with these cuts and reorgs is that your work history is lost. Nobody can vouch for your hard work or achievements. It’s like it never happened.