Thread regarding GlobalFoundries layoffs

@3leu maybe you were underpaid the whole time

Dun be fooled .., outside is definitely better 30% , RSUs yearly , 20% bonus - 10% personnel, 10% company , medical benefits , 401k match same as GF up to 4.5%.

@3abt this is true... I think I'm one of a few people on this site that wants to leave GF for non-financial reasons. My salary's on par, and I've only gotten offers from other companies at 5-10% increase (L8 at GF in F&O BU). Even then some of their benefits weren't as good... like the difference in health insurance premiums and 401k match would be a break even at some. I declined 3x and am still at GF. I've been on cruise control the past few months and it's starting to bite me in the a-s because things haven't gotten done. I think I need to lower the bar a bit.

• Talent Retention Incentive. Intel recently did a similar move = 7%
• Salary Adjustment to align compensation with new hiring incentives.

For those of you complaining that you didn't get a bump, you're compensation is probably already well aligned with your skill set and performance. Remember it's easy to overlook your own blessings while you're counting someone else's.

@2kps win-win for GF. Good PR for trying to targeting women hires. Also get to tap a resource.

Although it's part of a bigger intiative to hire "returnees" to the workforce/industry, you can find a generic req for this

But we really know it's a desperate measure because they've failed to retain and attract other types of talent

I'm pretty sure this raise is a market adjustment.

to @OP:
they treat employees like consumables - read this, investi g in PR to accelerate the hiring capacity to compensate for accelerated attrition - read this!

https://www.linkedin.com/posts/jobsforher_restartrise-careeroppurunities-womenreturnees-activity-6866357009470640128-_fo9

I don’t think this is an actual raise based on pay band placement. I think it is a disguise. I truly think this raise is the company asking the managers who are people they feel they cannot lose, and give them a raise, to entice them to stay and minimize impact to the business, while letting the others just up and leave.

I think this is an action based on all the folks leaving with more than 20% raises outside GF and telling HR why they were leaving

Only 50% do the work

@1bws+1dPAA1XC
It's only Monday

My salary is lower than most of people at same level. I thought I could get raise but did not get notice. On the good side it approve my manager does not care about it, so I decide to look a new job.

I am not sure is it true. I have resigned and my manager said cannot beat the offer.

Definitely whoever got outside offer if it is within some range they can give hike but will you go out for small hike which is in their range

I don’t understand this company.

“We fix things as inadequately as possible. In fact, we’re incompetent.”

• GF