Thread regarding GlobalFoundries layoffs

@Cigar...

Chill out...

With the virus going around,..
We can ALL AGREE that 2020 will be REALLY bad for the Semi industry.

We are clearly arguing with some locals whove no experience in semi or working for corporations in general. Go back and look at my original quote that set off this earnings debate and youll see im still 100% correct and you are 100% wrong.

"2019 was a terrible year for most of the industry but these kickoff mtgs still happen regardless, everywhere, every year. The money spent on it and travel budget and customer entertainment is quite small in comparison to actual earnings even in a bad year. Its a VERY common business practice in this industry so youre little boat analogy hits that iceberg of reality and sinks."

Again...maybe you should STFU and listen if you dont know what you are talking about.

@cigar, 2019 was a bad year for Semi ?? Are you kidding ? Which alternate reality did you come from ? Semi drives technology. It was a runaway year with AMD / APPLE / TSMC leading the pack !!! 2020 outlook is in fact the poor one for the general economy with the virus situation worsening matters.

@Simon. you mentioned "Malta likely exceeded Intel's and TSMC's growth" ?? Need more actually be said about such comments ??

Let's believe you for interest sake,.... based on your wonderland, I guess we are ENTITLED to bigger bonuses / vacations than TSMC or INTEL employees ?? Got an update for us on that ?

@cigar - You can't reason with these people like good/bad. I mean he took a victory lap and wrote a treatise how TSMC grew a massive 3% vs the 1% from the IC insights report and Intel a massive <2% vs the 0% in the report. From his earlier posts, he was acting like they grew 20-30% and GF bombed. From what I am hearing, there was some revenue growth at Fab8 for 2019 vs 2018. So Malta likely exceeded Intel's and TSMC's "massive" growth last year.

2019 was a bad year for semi industry. Not even a question or debate cuz the numbers are in. Everyone knows this except GF technicians ranting on this site. And again....ALL CORPORATIONS HAVE YEARLY KICKOFF MEETINGS FOR THEIR COMMERCIAL STAFF. you guys are technicians in the factory so you dont get to go. But you know now this is not a shocking revelation or some big conspiracy. No one is shocked and outraged except inexperienced locals from Malta who never been outside the county. if GF is the first corporation you worked for STFU and listen instead of babble on about things you dont know anything about

@simon.

Seriously.. you are making it very obvious as to who you are.
A simple comment and you reply with an insult.
The average person would not have taken any offence.

is that what was showed to Mubadala ? Brillant !

The figures in your link are IC forecasts that were NOT accurate.

TSMC for example had 3.7% growth vs 1% which the article stated.
https://www.tsmc.com/english/investorRelations/monthly_revenue.htm.

INTEL reported 2% growth vs 0% ( from your article )
https://www.intc.com/investor-relations/investor-education-and-news/investor-news/press-release-details/2020/Intel-Reports-Fourth-Quarter-2019-Financial-Results/

True , memory (Samsung/ Hynix/ Micron) did badly in 2019, no one denies that but this was AFTER an OVERWHELMING 2018. Did GF's growth go through the roof in 2018 ???

True GF should NOT benchmark to Camera and Sensors , you should be consistent by NOT benchmarking to memory either.

Anyway ...understood , I would have done and said the same to Mubadala.

Really, good/ bad, I think it should be Damn Clueless. Here's a link to the top 15 semiconductor companies and 2019 revenue. Most lost and lost big. Only THREE actually improved and TWO of those it was only 1%. The only one with significant increase was Sony and that was for cameras and sensors not ICs. Get over your Jilted GF syndrome.
http://www.icinsights.com/news/bulletins/Intel-To-Reclaim-Number-One-Semiconductor-Supplier-Ranking-In-2019–/

Can't help noticing the debate on whether if 2019 was good/bad for semi

2 distinct observations for 2019 Semiconductor industry

The Winners
AMD / INTEL / TSMC / NVIDIA / APPLE / HUAWEI GREAT News stock / revenue / profits etc

The Losers
Memory companies did badly for most of the year ( except Dec ) Eg Samsung / Micron / Hynix

So... if you need to report to Mubadala , you report the MEMORY figures . If you need to report for the presidential re-election campaign , you report the WINNER figures.

Got it ??

I can count the money I've made by NOT working at GF and working at a great company that did really well despite the mild downturn. Bonuses, profit sharing and soaring stock. That's 3 (I counted for you so yo won't hurt your brain trying to do it yourself).

Fail #3. You definitely work at GF. Learn how to read. What hole were you in for all of 2019?....how did you not know this?
https://www.google.com/amp/s/m.economictimes.com/tech/hardware/global-semiconductor-revenue-declined-11-9-in-2019-gartner/amp_articleshow/73328153.cms

@cigar
Learn how to count. I named 5 companies, you said I cited one. Then you called that strike 3. No wonder you love GF so much. You can't count 1-2-3.

Ok Im clearly arguing with the challenged here so a no win situation. Yes 2019 was a down year FOR THE SEMICONDUCTOR INDUSTRY despite youre lame financial analysis of one company in that industry. You whiffed and missed the point entirely. strike 3. Look if you dont believe me that GFs kickoff meeting was lame and done on the cheap just look at where they held it. Lisbon is the cheapest travel destination in the EU. No semiconductor holds their meetings there just for status quo reasons. San Diego way more expensive and appropriate a location. Youre in way over your head here. Every semiconductor company including GF has these meetings multiple times a year. Why put yourself through shock and outrage over it every year?

"2019 was a terrible year for most of the industry"??? Whoever wrote this must be in senior management at GF. Probably the chief marketing officer. 2019 say most good semi skyrocket! Everyone is making money hand over fist except GF. AMD is at an all-time high now that shifted production to a real foundry (that means TSMC for those of you in GF management). Even companies that pivoted to specific niche markets have done well - TI, Skywater, even Tower-Jazz. Only one company had a terrible year in 2019 - that's the company you work for.

@bybd
2019 was a terrible year for most of the industry but these kickoff mtgs still happen regardless, everywhere, every year The money spent on it and travel budget and customer entertainment is quite small in comparison to actual earnings even in a bad year. Its a VERY common business practice in this industry so youre little boat analogy hits that iceberg of reality and sinks. Id say nice try but well it was weak and shows youve little experience in this business. Like I said if youve ever worked for some other companies and had a little bit of outside experience youd quickly realize this and most other posts here fail the snif test and are just pulling on the emotional strings. I was laid off during the 7nm purge but didnt lose my common sense over it. Reality is that GF is still lame as industry metrics go, but not for the niave reason you think here. GF lame because their kickoff mtgs are done on the cheap so they can pinch a few pennies. I could imagine this being done at a Hilton Garden Inn with some low budget event staff and per diem meal limits. Thats not semiconductor style! Now everyones ticked off, the technicians for knowing the party happened but not knowing it was lame, and the leadership team for going and knowing it was lame. Put that in your pipe and smoke it buddy!

@cigar
The Titanic is going to sink, and you are justifying the party going on for leaders on the deck by saying they are spending less than the party on happy cruise ships! Those large companies also pay fat bonuses, stock, and have real books to show.

That's because July sounds better than never. Truth is, it's the latter. Sign 1,492,735 GF is in serious trouble - handing out pay rises but not actually paying them. So glad I left!

So, cost of living delayed until July.

Wow. Thats some damning evidence you found here. Except all large companies have yearly kick-off meetings with commercial and leadership staff. And trust me, none of them do it someplace c-appy like Albany. Actually GF spending on this type of stuff is typically GF lame, you really need to try working for some other companies to see just how crazy corporate parties can get.

UAE investors are rich and it's their money to lose .

Not different from a billionaire buying a yacht / a ferrari . No ROI either way.

just get over it and see what you can rip off out of it.
No point hating those who are successful at rip offs

Anyone hear about layoffs in the 1st half?

Beware when companies start patting themselves on the back and promoting women. Years ago a business class professor said those are the sure signs everything is crumbling. So check, and check, for GF.

But hey, we get Automan

Heard this time is in Lisbon, Portugal. And after that, there are going to be worldwide workshops for each department, at least some are being planned in sgp.

The last time there was a workshop in 2018, the organizer planned it around Lunar New Year so that he could stop in Taiwan for a visit to his wife's family and went to interview (transit using EVA air). Needless to say, he left for a Taiwanese eqpt vendor as a sales director within 2 months.