With the financials plummeting and a technology roadmap which has near zero differentiation where does GF go from here? At this point GF is just a company falling further and further behind our competition in terms of technology portfolio, revenue growth and overall profit margins. There is no discussion of the new Malta fab because we can't keep the existing one full. The best talent continues to leave day by day, week by week, month by month. The Senior Leadership Team is a bunch of washed up never has been leading GF down a dead-end road while they continue to milk every dime out of GF they can. So, what prevents this ship from hitting the iceberg and sinking? What is the next play for GF to turn the ship in the right direction? We can't even keep a CFO, is there something questionable in our financial reporting strategy? I've worked really hard for GF and want to see us succeed but I fear the end is near unless we are sold to someone like Intel. What a depressing place to work which I have out of loyalty but the time has come for those of us left with valuable skills to take our skills to another company/team where the future doesn't look so dismal. Thoughts on how and if GF can turn the ship away from the oncoming iceberg?
4 replies (most recent on top)
a little titanic
Great post and can 101% relate with you. The best thing we can do is to leave this place before it closes down. I have no hopes left with this junk leadership as it is known failed bunch of a-s lickers who always followed orders ( from visionaries who already left GF) and now they are pretending that they know what they are doing.
Sad but let us accept the fact that GF has lost its direction, and now matter of time before it sinks. With on going exodus of last remaining talents, GF will be left with individuals who either could not leave due to capability or individuals who could not survive anywhere else and must find a job to keep afloat. If you want career and believe in yourself, there is no point in wasting even a second in this hopeless place. This place is done.
@iiv+1nFITsIB
I have many friends who left GF and got excellent jobs including myself. Right now the economy isn't great and we can certainly blame much of this on the Biden Administration (what clowns both Biden and Harris are). However, if you have good skills which are in demand, companies are still hungry out there and will pay much better than GF pays. When I left GF in 3Q 2022 this was the time the industry was really starting to downturn but still I got many interviews and offers from different companies, finally selecting one I'm very happy with. No company is perfect, each has its own strengths and weaknesses, and HR is horrible at most all of them (more clowns), however, at least at other companies there are pros and cons, when I left GF there were only cons and no pros for staying. Good luck in your search, personally I see GF employees getting very strong job offers in industry if you have the right skills companies are looking for, I never felt there was any stigma against GF by other companies, my experience.
I made the same mistake as you for being loyal to a company who clearly doesn’t deserve it or has earned it. What you are describing though instead of loyalty is known as the sunk-cost fallacy. Which is the phenomenon whereby a person is reluctant to abandon a strategy or course of action because they have invested heavily in it, even when it is clear that abandonment would be more beneficial.
I too invested a lot of my time and career into GF only to realize with in last year it’s not worth it. And embarrassingly I think I knew a long while ago but ignored it. I have too much good work invested into this place. But as you pointed out it’s a sinking ship. Our hard work can plug up all the holes. It really dawned on me as I started to look for other roles elsewhere and found that many other places have very little to zero respect for GF and GF employees. So all the time and hard work invested is really coming up worthless on all ends. But I do see what you are saying and it is definitely time get in life raft and get out so I will keep hunting. But I do get a strong feeling I will only find a position significantly beneath my skills and worth because of the stigma of Globalfoundries has.