Thread regarding GlobalFoundries layoffs

Sounds like I will take my time and not hurry up looking up for my next one. Everybody should enjoy their 90 days off.

Good luck to the group that are staying behind.

To the mid mgmt team, I understand what you had to go through, I know it was hard for you too.

Take care guys!!

Vacation accrual and service period continue as long as you are on pay roll during notice period ?

I think it will be biweekly, just like the last time. Otherwise it will mess up visa situation for way too many people. It seems like half of the Malta site is on H1B

Yes, you would have to officially resign (just like you would normally). A company is not going to keep paying you if you left and found another job.

Yes if you accept an offer from another company within 90 day period you need to resign to GF and you would lose 90day pay, severence and vacation pay if you resign before 90day period is over. After 90 day period you receive severance and vacation as lumpsum.

So if we find another employment before the 90 day period is over, we must resign and stop getting the rest of the 90 days before we can work somwhere else?

GF pays the health insurance on the first of every month, as long as you are still employed on the 1st few days, you are covered for rest of the month.

I was laid off in June and the above reply is correct (although we had only 60 days notice). Regular paychecks until end of unemployment and lump sum for severance. GF additionally paying COBRA benefits until end of the year. Also, GF automatically cancelled any vacation on the calendar duirng the notice period and get payback for vacation accrual.

I don’t have any inside info about this layoff but if it is similar to past IBM layoffs the 90 days is for you to prepare for termination. It is paid and TAXED as a regular salary usually paid in same interval as paychecks. If you go work elsewhere during this time, you give up these benefits as if you resigned at any other time. Your health benefits continue (along with your premiums) until you last day. Upon termination (layoff date) you are eligible for Cobra benefits but the cost of that is usually very expensive and on you. You may work for any company after layoff unless there is a specific clause in your job role prohibiting that (good question to ask). Even though you are still employed, they take your badge so you may not enter job site so make sure you take what you need. before you leave including networking contacts, job description & HR contacts, etc. During this time they usually make some half-baked BS effort in job counseling, resume & job search efforts. It’s a tough time to be sure but it is not forever. Head Up, keep your sense of humor, be confident and take care of each other.