Use this space during the live event
42 replies (most recent on top)
TC isn’t a good businessman or leader. It baffles me how he got this reputation when he never ever actually earned it? Look at his track record history - how can anyone say this guy knows what he is doing?!! Or this guy is great at business!! How?! When?? Where??!
2023 outlook in globalcast very different than what DR and TC told wall street 2 weeks ago on the public conference call. Who were they lying to? Us to justify the layoffs? Or them to keep the stock price up?
$25mil extra cash/profit from higher interest rates. $400mil sale of Fab10 closing this quarter...If only we could use that extra $425mil to save our colleagues jobs....
And what happened to TC's "we will double down in the face of any softness or downturn so that we can steal marketshare and come out better on the other side" comment from the 2Q globalcast....total BS...liar liar pants on fire.
@OP+1jXmDVBK TC also looking rather plump these days. Must’ve have hired a new private chef..
TC looked worried because it's looking bleak for 2023
- In the State of Vermont, we employ approximately 2,200 people, which we believe makes us one of the largest private-sector employers in the state.
- At the East Fishkill facility, we employ approximately 1,250 people, which we believe makes the facility one of the largest manufacturing employers in the area
- In Germany and the rest of Europe, we employ approximately 3,350 people from over 37 nations.
- In Singapore, we employ approximately 4,000 people, which we believe makes us the second largest semiconductor-related employer
- At our Malta facility, we employ approximately 2,700 people, which we believe makes the facility one of the largest manufacturing employers in the area.
https://twitter.com/TheLayoff/status/1598460253456457728
we have 2 more weekends to pack our stuff from the lockers / cubes so pls plan ahead
@ixq
Sounds like it, though I wouldn’t be surprised to see some manager level positions consolidated like fab8 AME did for several modules. My department has ~15 MSM and up positions, could easily get away with 10 or 11.
He said manufacturing is most safe. Does this include MOC and process and equipment engineers and MSMs?
What happened the chips act money? TC was all over media going to DC jerking all the politicians off trying to get some of that money.
so who is safe in Malta- 5% is chicken feet globally
No R&D = no future
Five percent globally but India and Malaysia and Bulgaria and china I am sure won't be touched
If you use FABGUI daily, congratulations 👏
Brb, let me go put in that stop-loss
We still have R&D? Didn’t they all got axed during the big pivot?
I want to go to Burlington and greet the enthusiastic missile man with a yellow jacket who made the last comment.
This concludes the live stream chat. Thank you for participating and keeping it lively and civil. Onward team.
Who had TC shirt button lasting the whole GlobalCast
@1bsm at least she is sipping water.
Flag waving? R u kidding me?
Can we hear from the new HR person, I feel bad she's just sitting there. She flew all the way to the cold NY for this.
Heard 1 in 3 from R&D
Will we know distribution (in people and in $) impacted.....?
Said executive and seniors harder hit. Didn't recall how much savings - guessing 15%, so cannot say distribution - but at least expect 50/50.
Reminder that there are fewer higher levels than us grunts.
That r&d spend number is a LIE! Telling the street that we are reducing r&d doesn't look good.
~20% in R&D people.
5% headcount = 700 bodies globally… mfg least impacted. Leadership and support heavy impact… raises and promotions pushed out to 2nd half of 2023. Head cutting runs from Dec 12 through the 16th in US and Singapore.. Germany to follow
Will we know distribution (in people and in $) impacted by grade level and by geography?
Fair point that Outlook is still not positive. Going to be tough next year
There will be no global volunteer attrition in 2022. They will layoff in 2022 then in 2023 they will offer volunteer separation packages.
Potential voluntary next year
If you work directly in the fab with wafers , you're probably good.
If you're just support, think about what happens if you were to take 2 weeks vacation, would you be missed ?
Don't like to say this but I don't think this is enough. Likely to start next week - DRS smacked in new year
Any info on what areas it will be from? I won't get to see it till 7pm when next shift starts
MFG team least impacted. That's good news for our Fab teams. 👏
5% headcount reduction
Notifications done mid-December (Dec 12)
Q: Can someone calculate what 5% of employees is ?
Notifications mid Dec
@1gbe+1jXmDVBK
Remember this presentation is delayed, when script written it was 7-weeks left in quarter. Just an honest miss in updating slides for today.
7 weeks left in quarter??
Go your own way and the weight as intro songs. TC is truly gigachad.