Thread regarding GlobalFoundries layoffs

Cannot wait for the November 29 earnings call. We should all join the call and ask questions.

Usually when I buy any stock it starts falling. I think I should buy it now just so it comes to actually what it’s worth that is 13 billion dollar company

so directors get rewarded for the "at any cost" method of doing business. Let's see if the stock prices hangs on until their vesting cliff. New wave of goodbye emails the past two weeks. Something's gonna give, just a question of "when?"

20k shares really? It means 1 million USD above seriously.

If it is true God only can save GF

Directors be getting over 20,000 share, just sayin.' But glad some crumbs fell off the table.

@5pwl+1dE5kgc7
It is so obvious that management has no confidence in the shares next year. The only way is to fool you all to buy some forcing you to hold them till June 2022. But they can sell latest in early May 2022. By the time you are eligible to vest those shares, likely it is worth toilet paper. Think twice before you invest with GF, if you believe in a company not making money during a supercycle peak, you should have invested in Enron.

When 50 share vest in June 2021 price of share may drop to 30-40 which means 1500-2000 worth of benefit for staying till June 2021.

Very cost effective retention idea of management.

They can now selectively address people who still leave by offering another 100 share.

@4eml "I really hope that it was in their plan all along,"

This is 100% reactionary, but even then, they had this same data before IPO and these decisions could have been made then. This is a complete lack of foresight and leadership. I think bringing in new position of VP Rewards to handle this instead of HR VP shows some acknowledgement if this failure.
Unfortunately, this will not prevent high achievers from leaving and getting higher paid positions, this only gives them additional leverage.

I don't think it's in their plan. It's definitely reactive to high attrition.

They are changing appraisal Cycle back to April.

Next year if attrition is low and profit is less they will push back again to July appraisal or 5% layoff.

Only planned thing here is t-shirt, cap, bottles like small things

I'm one of the usual cynics here, but the 50 shares and 20% match is cool.

I really hope that it was in their plan all along, and not a reactive measure/plan b based on reception from the greater employee base

@3ijo according to LinkedIn, she's been in this position since December 2020

not a good first year for her IMO, hahahaha!

@2wym I assume that's a joke, but I haven't watched the video yet. It's like creating the position gives an illusion that the "rewards" they've offered/will offer are anything but run of the mill (at most)

@1dxe they either match pay to industry or to the area, whatever suits them. The verbiage changes based on the time of day. Moving the cycle means very little at this point... maybe some people will delay looking for a new job a few months

so there's a new position, Vice president of total Rewards, another McKinsey idea with position filled 7 by McKinsey employee

20% of 10% of pay means 2% of pay.

With 2% hike you can stop people leaving is great idea. Similarly moving hike cycle from June to April which in fact was April two year back again will stop people leaving is another great idea.

If both idea holds true people would have left when cycle moved from April to June two year back. Similarly hike reduced this year.

Management should stop this games and think seriously about matching pay with industry to stop people leaving GF.

Let say 100k pay can contribute max 10k(10%) for 2k GF going to give.

If you are satisfied with 2k to stay brilliant.

@1elb get bought out by a company with management that knows how to manage

You are being guaranteed 20% on your deposit, better then savings account. Even if you sell the same day the stock is purchased, you're still UP. The process is completely voluntary.

What would your solution be to end the constant quitting of friends ?

Mark day in June when share allocated in free will sold by everyone causing price to fall.

April-May all management six month lockin will expire will cause to fall below IPO price.

My point is somewhere in may to June unlocking will happen and supply will be more than demand causing price to fall .

I will wait for June to invest in GF share

wait for GFS to announce offerings to raise funds for building 8.2 and then price will tank 60% ... wait for it

so ESPP is given at market rate plus 20% extra ???

dun sound too enticing to me

People who asked for $GFS, congratulations, management listened. This is a win.

I can’t wait to get my GFS, where it is such low quality, you will be able to see my kegged abs through it.