TC has been trying his level best to befool us, Mubadala and now investors. It is clear that GF is fundamentally not able to sustain itself and will continue to resort to layoffs as easy way to make numbers look good for wal street.
IPO that was coined to help us in terms of allowing availability of public funds to grow is going to be pain and curse for us. In absence of cutting edge technologies below 7 nm, GF will never be able to get margins that top ones like TSMC, Intel and Samsung command. This will force GF to continue reducing head count to improve opex margin and futile effort to match the revenue per employee benchmark. Based on Mackenzie’s recommendations GF still need to reduce headcount by 40% still at present state. This means even current >20% attrition is not enough to take where GF need to be to look good to Wal street.
What this means to us then?
This means GF need to continue aggressively offer volunteer packages and their yearly retirement package to employees above 55 years above to continue to keep their stock above IPO prize.
Now the major sorry is - GF has accumulated highly incompetent, political, sub par, biased and failed list of employee in their manager and above rank. This junk group is highly detrimental to health of company as they will continue to survive due to their a-s licking and political behavior. Remaining talent will continue to leave as they find jobs. This will make GF non workable place as Junks left their will continue to stick to sinking boat as they can not find job outside.
Here is best that can happen - Mubadala finds this out quickly that GF is reduced to bottom feeder foundry which can not sustain itself and needs one of top companies like Intel or Samsung to buy it. Fire TC, PB and all their a-s lickers KC, PB and all associated junks.
I have decided to leave GF and hope everyone else able to exit this rotten place soon. Let us see if we can get some partying gift next week.
20 replies (most recent on top)
lmao, how many years Boomers have been around vs Zoomers? Did the boomers come up with PCs right around the time they can vote? sit down bud.
Boomers - Gave us the Computer
Gen X - Gave us the Smart Phone
Gen Z- #1 accomplishment = Eating tide pods on TikTok
@1xra+1k7IR0ij Exactly!! Our attrition rate has been hovering between 20-30% for a few years now. Intel is about 5% others are similar 2-5% range…. It’s not the same.. they are not the same or similar to us in even the slightest.
AND despite our huge attrition number compared to others we still have to do layoffs?? Come on brah…. Of course we are by far the worse when compared to other places. Those simple numbers alluded to countless issues and also other intangibles that are completely out of wack when compared to our competitors. It’s crazy to even suggest that it is “the same anywhere you go”
I m sorry but whoever is saying it’s the same with similar problems everywhere are absolute mo--ns. Globalfoundries is easily the worse all around. The numbers don’t lie.
Point here is - does gf management walks the talk. And if the answer is screaming know .. we all know what is going to happen to company .. it is matter of time before it will crash because talent will be first to jump the ship and place will keep getting rotten, gloomy and dusty as time passes as employee engagement will be non existent. We have been in highest possible attrition in last many years and my manager always mentioned that GF will never have to resort to layoff as this abnormally high ((>20%)! attrition will keep reducing employees at fast pace. He even mentioned that GF needed to recruit in some departments as talented individuals left at even faster rate making it impossible to run that module. He projected that GF kept recruiting from community college and local universities like SUNY to keep cost down and prepare for future as high salary employees will be laid off, volunteered to resign or retired with package. Idea is to lower cost with cheaper and smaller work force as GF just need to running 14 nm wafers with our customers like AMD, Qualcomm and Marvell.
I am sending major trouble coming when 14 nm prizing war starts when TSMC, Intel and Samsung start cutting cost in downturn.
@1cxl I worked for some big names in the tech industry before joining GF. The culture and politics at those other companies were extremely bad and very toxic. I couldn't even focus on the actual engineering work from the amount of office politics. My manager at Fab9 has been nothing but great and supportive. Other people in my department are spoiled and don't stop complaining because they don't know what it is like to work for those big name semi companies. Maybe I got lucked out working at my current department, but I can assure you that other ivy league places can be much worse and damaging to your health and wellbeing.
Boomer is triggered by bo-m clubs
I think you missed the point of lot of these posts. Yes we work to make money and that is why we are here. But 99% of these posts are pointing out that at Globalfoundries that opportunity or environment to work for money is not optimal. It’s not that GF owes anything, it’s that it is not the best working environment or situation. Time is money - so go to where you can maximize your profits and your opportunities. GF is great at masquerading that there are great opportunities for career growth etc (how many times over the years have we heard about GF’s potential and it just has never actually developed into anything real or tangible). So you are probably misinterpreting people giving the impression that they feel owed something but rather it is really that GF has not delivered on GF has offered or promised. (so owed in a way but really not owed but rather earned by the work of these individuals). This is very different then what you are implying. It is not communism but venting about broken agreements and being misled by false promises.
It is not the same as other places not even close. The level and magnitude of the toxic situations, mass manipulation and lies perpetrated towards the working employees of GF are easily ten fold worse than anywhere else in our field. Sure yes do similar things happen at Intel, Samsung, apple, etc. yes they do - but no where near the levels at GF. GF has a well known and established reputation in our industry connected to this. I have worked 2 decades in this industry at three (including GF) semiconductor fab based companies. GF IS THE WORSE by not 1 but by 10 miles. You logical retort to this will be to me - well then go back to one of the other companies. My response would be I am at the sunset of my career so I will ride out this chaotic bad business of GF into the sunset. But if I was a younger engineer starting out or even 10 years in - from what I have seen and experienced I would bail out of Globalfoundries immediately. Globalfoundries has shown it can not sustain itself. It’s horrible company lead by incompetent and inept leaders. The managers we deal with daily are the failures drummed out of the other companies. GF is simply dying a slow death that will just get more painful as time lurches on. GET OUT! while you still can.
@1jxm+1k7IR0ij And @1ebh+1k7IR0ij
It would be very interesting to hear what you have to say if you are one those unfortunate people to be betrayed by GF and impact by this resource action. I m going to guess you will pretty upset.
Global owes us. If it wasn’t for us, TC wouldn’t even have his IPO haul.
“But, but, but, what about those illustrious employee resource groups, like Global Families, Book Club, and the ping pong? I need those to function, while I sip on my soy frappe, made with fairly-traded coffee beans and organically-grown cinnamon.
You are spot on. I hope every millennial, Z, green hair and nose ring whiner gets purged from the ranks. Then we'll have a professional and solid workforce. We work to make money, not satisfy some foolish notion that somehow the company owes us for just showing up.
You guys that are crying about GF and TC do realize it's the same anywhere you go, right?
Talk to some of us whom have been in this industry long enough to measure our career in decades, and you will find out the grass is in fact NOT greener elsewhere.
This place, like any other company, is in business to make as much money as possible with as little costs as necessary. You work to get paid. There is no such thing as ''career satisfaction'' or ''company loyalty.'' If you want to better secure your employment future, stop referring to people that go above and beyond ''a__lickers or boot lickers>"
You folks that put in the bare minimum and expect to be treated like you're doing the company a favor must be fresh out of school. You're in for a tough 40 years of employment if you don't dramatically rearrange your expectations.
Without Mubadala and TB instructions, you think TC can do this? Remember this and next exercises are to satisfy the greed of the shareholders.
This won't go on for long. Mubudala will put fabs up for sale soon. GF can't be profitable at what it takes to actually operate -without non-manufacturing overhead group expenses. IBM semiconductor division never profitable and what a surprise that former IBM management can't operate GF profitably. Simply can't layoff enough people to ever run in the black. They'll be gone because they're out of tricks after IPO, and GF won't be able to attract any good management. Only choice to sell. Then acquisition price for Fab 8 will be lower and more attractive for someone to buy and start over with new mgmt and no consultant parasites
The Pivot was a massive success. None of you people know what you're talking about.
I do not care about severance package anymore. I am clear that GF is not a place to build career and earlier leave the better. Nothing new to learn in my last 3 years here.
I had discussion with my manager in AME last week . My manager is personally good guy but has useful and trusted info as he is one of those a-s lickers of HP and PB. He expects that this round of layoffs will mostly consists of mix of senior engineers with high pay who are below 50. Managers were communicated on next coming volunteer and retirement separation packages for employees with high pay and in age group > 55 years. Lot of those experienced employees will not be selected in current layoffs if they fit in retirement package and they need train newer employees. Current layoff package could be better than coming ones for sure but he guessed it will be capped at 12-16 weeks.
As you said in post. It has been really unfortunate that GF was never really able to provide long term vision for good and talented employees to stay and talent has been leaving at high pace that left company with all those a-s kickers as you well said. For example PB just needed one dummy like HP to run AME as he just need someone as AME VP to just follow his orders. HP never delivered as technical level and was pulled into management path due to no available options. Now HP has been trying to fill the rank by promoting all those failed guys who she thinks will just follow her orders to save their job. All this chain is “ok” for GF for now as they just need running mature 14 nm in Malta. The real problem is for remaining talents as they are stuck in GF and need find job to escape the rotten place and guys who will not find job outside.
Yes agreed with OP fu-k Globalfoundries and their managers
Well said in previous post. I am working on my resume as well.