Anyone else heard about another 5% cut?
26 replies (most recent on top)
The number of down votes are unreal! We seem to have a GF hr troll downvoting all the good comments!!
Actually Stewart’s pay isn’t that far off from GF’s Level 1-4 techs pay rate. Not to mention, less stress, no layoffs and the ice cream is better than the global cafe.
But on the plus side, I knocked over the Sun Sphere.
Glad to hear you're liking the new job at Stewart's! We're all proud of you.
I’m still a GF employee. Even getting paid and accruing Vacation until Mid-March. New job is going great. Scored a M-F gig 😊. Since this a layoff forum and I am being laid off in March, I’ll probably read and post until then. I wonder if they postponed raises and promotions for on-site employees to pay for 400+ employees currently on non- working notice and getting full pay 😉🤷♂️
PS. My new job doesn’t have a dedicated layoff and complaint forum. 🤣
@4qt
I actually work at Global, I don't pretend like you. You got walked. You're not coming back. You no longer know what happens here. Whatever delusion afflicts you, it will not sway or impact anyone at GF. You have some serious issues that need to be addressed, not just being unemployed. Leave this site for people who actually work here and want to exchange info, not your childish vendetta and fear mongering. Nobody's going to leave this place cause of any of the sh-t you spew.
That fact that we are all on her talking about Layoffs and the misery at GF’ speaks volumes about this company. Anyone know when raises are coming? No? Lol
There is no 4JF3. Try again. Now go back to pretending to work.
I keep learning about different people that were impacted by the layoffs, and there are more and more people I would consider good contributors vs people who probably "deserved it" (i.e. id--ts)
@4jf3
How many posts are you going to create to try and make yourself feel better that you were walked? Looking through the threads you're trying to justify that it was the company, not you who were doing things wrong. That it was money, not performance that got you walked. You apparently have all the answers and know-how. Just accept the fact the you were an unwanted cog in the machine, and fade away. You're like a jilted bride or crazy ex girlfriend with your GF and TC obsession. The only people that believe your false and repetitive posts are you, and your many alter egos.
4ynx & 4jfs
Yup - Globalfoundries is walking along on its death march with an occasional sprint here and there
&4ynx+1kWvEsoT
Spot on perspective. Just wait until tools start getting idled and guys are standing around waiting for a PM or tool down. I also see Qtrly headcount adjustments in the future. Some scary reporting and forecasting from Qualcomm very recently. I’m beginning to view my layoff and recent industry change as a blessing.
It is a never-ending downward spiral when you manage a business-like GF purely tactical from quarter to quarter, you lose any strategic vision you had. The problem for GF is they really are making nothing new in 2023, same cr-p different year. Then because they are not differentiated and not lowest cost their fabs get underloaded. Then when their fabs get underloaded they have to cut costs to make their 40% aprox gross margins to be viewed financially competitive with UMC. Then as the sales continue to slide because they have nothing differentiated the costs have to continue to be cut to make 40% gross margins. Then as this trend continues you keep cutting staff and programs to lower costs and then you have nothing new that differentiates you from other foundries. Because GF is focused on meeting Wallstreet expectations they are running the business quarter to quarter tactically while they have no strategic vision, basically a sinking ship strategy. The iceberg is getting closer better get off before the ship sinks!!
It’s coming. The industry has just begun to downturn. All you semiconductor newbies buckle up and enjoy the ride. For those of you laid off in Dec be grateful you got laid off while the severance was good and the job market is active.
Yes - I am hearing it will be bigger than when people are expecting. And excluding the Dresden axe falling in a month
To save another 1ooMil, probably 15% cut for 2H23.
GF managers vs. IBM managers?
What’s the point. In Malta, they are all out the door by 4pm everyday, then the “team leads” sneak out and sit in the cubes while the fab burns. I see it everyday.. It’s GF culture regardless of which bumbling m-ron they put in management.
Actually GF management = reject ibm management…
I think a strong argument could be made though that the nonibm managers at GF are pretty terrible, incompetent and useless.
GF management = IBM management. IBM went through layoffs every quarter based on stock price. Silly. Sinking boat.
GF will most certainly be delivering another round of layoffs. Just a matter of when. I suspect smaller in number with increased frequency. Next round I’m betting will not qualify for the 90 day non- working period. Will be the standard 4 weeks for the first 4 years of service and than an additional 2 weeks per year of service for each year over 4 years.
Well I care if this means I am going to lead to me losing my job. It’s the whole point of the website du----s
Blah blah TC. Blah blah blah DR. Who the F cares anymore?
As far as I know in 1H 2023 there is only the Dresden layoff coming which was tied to the Dec 2022 layoff but due to the Works Council there, they couldn't do a layoff quickly like the rest of the locations that were impacted. However, if things don't turn around with more wafer orders in 2H 2023 due to inventory depletions by customers, then there could be another one before year-end 2023 since GF is now a financial machine and priority #1 is making Wall Street happy so the execs can continue to cash in their stocks at higher prices before they jump ship. Both TC and DR are busy selling off many shares of their stock since they know the financial scam is about to sink in 2023. The worst part is yearly layoffs will now be a knob for GF to meet financial targets, everyone in 4th quarter each year will end up being concerned about getting laid off, this will be the new normal moving forward once you are run like a financial machine.
Not 5% - but one is definitely coming in the spring and could even be bigger then 5%
Of course they are going to have another layoff. It isn’t a surprise, at this point, especially when TC wouldn’t commit to saying no. Just look at what other companies are doing and extrapolate.
No, and neither have you. Stop trying to stir the sh-t.