Thread regarding GlobalFoundries layoffs

Scathing article

After all the touting and tooting their own horns to generate interest and eventually releasing the financials the truth is out. Here is a scathing article from Bloomberg https://www.bloomberg.com/opinion/articles/2021-10-05/how-a-global-foundry-is-losing-money-in-a-chip-bo-m

Whoever earlier wrote about the cash crunch in this forum was correct.

Right now with the IPO I believe GF is taking a huge risk thinking they might be able to get higher value and be able to demand a higher asking price for whoever is willing to buy GF. But if the IPO gets bombed then in that case things are not going to look bright and they might not even get the rumored 30 billion that Intel was offering.

by CTOGaryP
| 2055 views | | 8 replies (last October 10, 2021) | Reply
Post ID: @OP+1dcUGqaQ
Comment! It's anonymous!

8 replies (most recent on top)

By the way in one of the recent town halls he even suggested that the Amount thrown in for fab8 expansion will translate to almost 2x ASP compared to the current ASP which definitely does not make sense

by Anonymous
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Post ID: @3gju+1dcUGqaQ

@3qhu+1dcUGqaQ here it is https://www.piworld.com/article/printer-supplier-lexmark-international-to-lay-off-700-workers-target-of-class-action-lawsuit/

by Anonymous
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Post ID: @3liv+1dcUGqaQ

what part of the CFO's past is shady except for a mass layoff and resignation shortly after it?

shady in the present, though? a bunch of people from one of his former companies got jobs at GF around the same time

by Anonymous
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Post ID: @3qhu+1dcUGqaQ

To your point @2mxb:
They hired crook CFO to conspire with McKinsey, the latter firm has a long records in high-profile scandals.
1) Purdue-Pharma & OxyContin crisis: https://www.nytimes.com/2021/02/03/business/mckinsey-opioids-settlement.html
2) McKinsey was paid to identify critics of the government. http://www.innercitypress.com/saudi3khashoggiguterresungc102018.html
What a good company we are in.

by Anonymous
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Post ID: @2oji+1dcUGqaQ

When they hired that crook as CFO, I knew it was worst thwn we thought. Google the CFO

by Madoff
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Post ID: @2mxb+1dcUGqaQ

Someone should just post the article on GFCurrent.

Don’t let caulfield lie to us anymore.

by Anonymous
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Post ID: @2azc+1dcUGqaQ

imagine learning more about the company you work for in a public filing vs the 5 years you've worked there?

by Anonymous
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Post ID: @1prz+1dcUGqaQ

https://semianalysis.com/globalfoundries-gfs-ipo-mubadala-lost-over-22-4b-now-they-are-hoping-public-markets-bail-them-out/

GF is trying to play itself as USA/Europe savior vs Asia (China/Taiwan). Yet, half of its shipment comes from Singapore and it is building a fab in Singapore. And being an Arab-owned company, it is asking for billion in incentives from Chuck to build a fab in NY (note it won't proceed until it got the incentive), how American is GF? Stop playing the White vs Asians thing, you hybrid-race piece of sxxt.

IPO is just a way for the top management to cash out. The only way to punish them is to stop them from going IPO and Abu Dhabi will either be stuck with GF or sell to Intel (no golden parachute or hefty stock options). But I would not be surprised if Mubadala has insiders aligning themselves with Tom/board of directors instead of the owner (They are hella corrupted!)

by Anonymous
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Post ID: @ecp+1dcUGqaQ

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