Based on reliable sources Malta alone is close to 500. Employees with 50+ years of age will be selected mostly from AME and integration. Also heard there will be volunteer retirement offer just like previous years for people reaching 55 years and above in 2023. Layoff numbers overall could be smaller if more senior employees are cut as that will aid meet cost savings target. Managers and directors will be targeted in an effort to make org leaner. TC and PB want to take this opportunity to hit the employee reduction target that Mackenzie recommended to hit the cost metric as event attrition more than 20% did not yield the target yet. Heard it requires targeted reduction as mostly talented employees keep leaving company making attrition higher and causing backfill trigger due to key requirements on those positions. So far they see new employees with lower salary able to do the job just fine as most of the GF tech is mature technology and does not need expertise and experience going forward. Recent exercise on redefinition of company vision is clearly the guiding pole which does not indicate world like words cutting and bleeding edge anymore. GF envisions itself to be bottom feeder foundry employing mature tech 14 nm and higher to serve second and third tier customers and do it sustainably while searching for opportunities in photonics and low tech 2.5 D packagings if customer want. Overall this model works in normal economic environment but will be tested in big way in coming tough economic environment. Hope this helps.
This is excellent info from @xms+1jGBA5RG. I thought it belonged in a thread of its own so more could read it.