While rumors about layoffs are circulating, I hear from people that there will be no packages offered this time around.
I don't really believe in that, but I'm wondering if anyone has more insights?
5 replies (most recent on top)
As you saw from CFO resigning 2 months into taking job…. There will be no packages as Globalfoundries can not afford it
They are not required to give severance but they are required to give a notice period if the layoff is over a certain size (in ny it’s 250). They are allowed to make you work that 90 day notice period.
I got over $100,000 after I was selected. Best thing that ever happened to me.
From what I am hearing there will be none in this up coming round as GF cannot afford it. Also GF is not legally required to offer or give such packages.
In New York, your employer is not required by law to provide you with a severance package, nor are there any rules for what a severance package should include.
It will be luck if I can get package and able to get out of he-l.