History is proof. TC must be thinking of doing something like ebitda bull sh-t, feature rich, autonomous cars .. to create another good looking lie to confuse remaining of us so that he can keep selling shares at higher price if possible.
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15Mil shares sold is most likely the exit plan.
@pvo+1kzbj9UU
Yeah that was pretty much my way of thinking operating. Then I got laid off. I’m looking forward to working for a company where I won’t feel that way.
I agreed to a certain salary when I signed on the dotted line. I get a raise every year to add to that salary. As long as the checks keep coming in, the company can lie to me as much as they want. Doesn't bother me in the least as long as I get paid.
I think your post really sums up and highlights Globalfoundries true intentions and agenda and all the behaviors and actions we see and experience from leadership and management as a result of it. It is because of this badly hidden mission that those actions and behaviors turn into toxic and nefarious moves on the part of leadership and management. And in the end these actions and behaviors affecting the employees are misleading and disguised to hide leadership and managements true intent. Boiling it down they are lies and manipulations of the employees with aim of appeasing Globalfoundries true purpose and goals.
Yes a company’s many objective and mission is to make money, generate profit and revenue and keep shareholders happy. But the way Globalfoundries goes about this is very crooked once you actually see what is going on. Sometimes we are too close to the project too see the forrest from the trees. But once you see it or are a victim of it there is no mistaking what is really going on.
Yes on the face of it Globalfoundries is a semiconductor company that makes microprocessors, chips and wafers. This is “how” we generate our revenue stream. This is “how” on paper we are suppose to make money. But the reality of the situation is as @cet+1kzbj9UU post has stated. We are not in the business to make the shareholders money but rather to make Mubadala money. And not necessarily through making semiconductor die. Some of Globalfoundries tactics are to use and leverage United States tax payers money. Siphoning it off to put in Mubadala pockets.
Take a look at other semiconductor based companies like Intel, Samsung, etc. They have the same mission, objective and general business model as Globalfoundries - make money from building semiconductor based products. BUT do you see them pulling the same shenanigans and economic finical tricks? No they don’t. They actual attempt to adhere to their stated strategies and tactics while not pulling some underhanded financial voodoo economic tricks. That’s the difference! That difference highlights the evil dark beast that Globalfoundries truly is and it’s real purpose and goals and how is deceivingly trying to achieve said goals.
Even if you think what I was saying is completely wrong, you can not deny that Globalfoundries has had too many of these misunderstandings or “you don’t understand what’s really happening,” moments in a short time span to be ignored. One maybe two - ok but it’s dozens now while our competitors rarely have any in the same span of time. Globalfoundries is showing their cards and true face but many are choosing to ignore it or dismiss it when it’s recently really starting to take shape and become clear as day to the point you can’t ignore it. Thankfully it seems more and more are catching on to what’s really going on.
I see this type of statement made every so often on here. And while you aren’t wrong the problem is Globalfoundries actively makes false promises, manipulates, lies, misleads and feeds us extreme amounts of bullsh-t. And the expect us to like it and smile and thank them for it. That’s the problem.
One should try to get the most out of their job as possible as you stated, but Globalfoundries is lying and misleading employees about how much they can truly get out of it.
Yes company loyalty is dead and think of past. But there has never ever been a company in the semiconductor industry as seedy as Globalfoundries with their business decisions and how they manipulate their employees
The majority of the posts either come from very young people, or those who've never had a professional job. Trust and pride in one's employer is a thing of the past. It's every man for himself today. No company cares about you, nor should they. Get as much as you can out of a job, while providing your best efforts. At the end of the day, get paid and go home. That's the only reason we work.
Whatever story TC brings, I doubt any one of us will trust him now. He is too much exposed. If we see layoff distribution, it clearly depicts how a-s lickers were saved and hard working and talented employees were let go as they did not belong to one of the toxic promoting leaders in AME, integration or business development.
GF missed the opportunity when it got wonderful takeover offer from Intel. This would have been great for US but thanks to TC’s greed of ceo chair. Now I doubt if GF is sell even half the price it was offered as its weakness is known to everyone. It is not only stuck at 14 nm technology which is considered obsolete wrt 7 and 5nm which are biggest portion of money making component for top foundries. Biggest issue is it’s quality of leadership and it’s culture which will require massive clean up of management staff from ceo all the way down to highly incompetent , biased, racist and lickers management.
I have been putting up with a lot of BS such as ebitda, inclusion, oneGF and such just to get my kids through college and pay the mortgage. but For purely safety reasons, I’d never be a passenger in an autonomous vehicle using any of that “feature rich” silicon BS from GF. Just saying.
TC is a puppet being told what to do by Tim Breen and Mubadala, he really has no vision for the company. As this point GF is being run purely financially but trading off short term profits while delaying or eliminating longer term R&D investments. GF spends ~4-5% of its revenue on R&D, UMC is similar maybe 4-5%, TSMC is more like 8.5%. To put this in perspective GF is a $8B revenue company and their R&D budget is around $450M. However, TSMC is around a $60B revenue company with 8.5% aprox R&D investment is like $5.1B. Each year TSMC is investing > 10X in R&D than GF is. Each year GF will fall further and further behind TSMC. Moving into the future GF will get TSMC scraps only and their fabs will be underloaded. This is the problem letting a financial person/group run a semiconductor company, they take short term gains at the expense of having longer term strategic plans. The long-term future does not look good for GF under current leadership/ownership. Remember, Mubadala still owns ~85% of GF shares so they call all the shots still even though GF is officially a public company.