Thread regarding GlobalFoundries layoffs

@2lbt+1bQeWFMc when was the last time you heard about IBM 2B lawsuit in the news. Not even the WSJ article mentioned it.

What about fabs 1 and 7 and nonfab locations?

Heard from a family friend who is a fan 10 SLT and still in touch with TC that intel will be buying fab 8 and 9 while fab 10 transitions over to ON. Title changes were due to intel structure and a way to justify layoffs. Be warned and be ready.

People that worked at B323 back in the day say Tom dipped from IBM because of sour grapes. Maybe what GF did with IBM assets was his form of payback and a way to enrich GF and himself?

Enriched, at least until the lawsuit is adjudicated. Good luck!

To @2tma+1bQeWFMc
What Golden parachute or golden handshake when $2.5B IBM lawsuit isn't settled yet?

Taken $B's upfront payments with contractual obligations, selling out assets (fabs to ON and Avera advanced ASIC designers to Marvel), breaching contract and reporting it as "pivot success!" to investors? Lets see what side the court takes.
And, how many former GF experts already work for INT, Micron or AMD? Hundreds.

Pivot Tommy sure hopes this deal doesn't go through, else he can't claim any credit to justify his multi-million golden parachute.

Can't see how GF will fit Intel's IDM2.0 strategy as GF likes to sell wafers cheaply to our customers like AMD, Samsung, NXP and Infineon. Remember, until today GF F1 and F8 is hugely unprofitable!. Intel needs customers who will buy its leading-edge technology with high margins and not GF's so-called mature nodes with negative margins.

Spending $30B for a failing company will accelerate Intel's downfall. I don't mind being able to identify myself as a future Intel employee but don't pin much hope on this.

"We were told it's all rumors by the company"
Lol, I'd be concerned if they said anything else. Besides, this discussion would be between Intel and the 100% owners of Globalfoundries in Abu Dhabi

We were told it's all rumors by the company

most possible outcome .. Monday press announcement .. will announce JV with Intel Foundry Services on fab 8.2.. and GF and Intel will have the support of the CHIPS act to get some $$$ ...

This is why employees titles were changed, to facilitate GF obsorbtion by Intel.

think about it .. 16 fabs sites currently owned by Intel .. why would they want to add another 5 fabs to their stable ... doesnt make sense financially .. for 30 bil...

https://en.wikipedia.org/wiki/List_of_Intel_manufacturing_sites

sounds more like a effort to hike up the price of the IPO ...

All good points anf you didn't even mention CEO Tom C recently taking a seat on western digitals board of directors. Perhaps the deal is done already and he knows he is out and needs an exit strategy and landing place when his golden parachute deploys? He reminds me of Bob swan, a financial, business oriented, McKinsey wannabe, money tightening type of ceo... He certainly does not come close to the Pat Gelsingher model of engineering prowess and would not be a good fit if Intel takes over GF. All he's done since he took over at gf is slash costs, lay people off, and sell assets (fabs, business units). Not to mention Pat already hand picked a senior exec at Intel to lead their foundry division initiative, so they would have no use for Caulfield. Very interesting indeed.

This is awful news if true. If you're alarmed by recent outsourcing of the IT department, look no further than Intel to find out of control outsourcing (way more than just IT) and H-1B abuse.

While it might happen eventually, I don't think it's the news being delivered on Monday, unless Intel itself is splitting off its manufacturing arm.

Multiple items point to this being true:

1. Many ex ibm/gf senior technical engineers and management have gone to Intel in the last few years
2. All the signage and name and logos have come down from fab 8
3. There are 2 secret Intel projects running in Fab8 to help them with 14nm capacity issues
4. Intels new ceo desperately wants to get into the foundry business. Intel tried years ago and flopped, gf has the foundry model, mindset, design kits, and customer relationships to get Intel started.
5. Gf no longer competes at the cutting edge nodes, gf legacy biz and features biz (rf, fdsoi, nvm) would nicely compliment Intels leading edge logic biz
6. Gf has zero technical road map for the future. Growth thru mfg yes. But no technical features or road map, and we are hemorrhaging experienced engineers daily. We need to sell now, an ipo is too risky if anyone looks under the covers and sees the lack of engineering talent and lack of a road map.
7. Plenty of space in fab8 area to expand further, grow a large fab on the same campus. Intel reportedly running out of room in Portland.
8. Intel recently joined the IBM alliance in Albany for research of advanced nodes, 30m south of Fab8.
9. Intel is scouting additional European expansion (as is GF). The dresden site is a prime candidate.
10. Intel has a history of operating globally (us, Ireland, Israel), so gfs world wide model would compliment their existing sites to diversify and minimize supply Chain risk.

It all makes sense why Intel would be interested, the price is the only question in my mind. If they truly are offering 30b,mubadala should take this in a heartbeat and give them a big kiss on the lips for bailing them out of their 16+ bil debt theyve run up so far on gf.

This is purely an IPO boost propaganda story planted to keep Globalfoundries name in the news and float an imagined value. WSJ is no longer a respectable newspaper.

Nothing new here. Owners are trying to sell GF to anyone for the right price. Intel is one such company. This 'news' seems like floated by GF to someone in wsj, just to hype GF's IPO and rebranding. Its not anywhere else. For the right price, wsj will print anything

Any truth to this?