Been at Fab 9 for almost 24 years and have been in this situation to many times. Good luck to everyone!
6 replies (most recent on top)
@1qwk+1k8k7Saq Wow! That was necessary? How many languages do you speak? I speak four, and yes I was born here.
@yna+1k8k7Saq don't take this the wrong way but if you can't speak English please don't write that much. That was painful to read. I'd rather put your post through Google translate
Someone will buy the fab. But anyone who isn't touching product, or touching the infrastructure making the product will be gone. New owner won't need the white collar desk jockeys.
@yna It's 2022, a-s licking isn't as much of an insult as you think it is. In fact, some might find it appealing
TSMC Will fire almost 90% of managers and above if they take GF as these guys are failed guys that found hiding in GF. As you mentioned GF lost its way after 7 nm pivot as it lost the cutting edge that is generating margin for top foundries. Being a bottom feeder foundry, GF is already in weak shape and with IPO, it will always be trimming to get better at numbers for Wall Street. As some one mentioned in post, if they keep laying off people with higher salary and keep those incompetent, corrupt and failed guys at manager and above ranks, GF will continue to loose competitive edge as most of those a-s lickers will keep chasing wafers and tools as PB wants, which is not enough to survive Wall Street and manufacturing in USA.
Tower was in similar state but they kept talent from best in world in diversified management ranks and offered to be sold as soon as they saw opportunity. Tower could be game changer for Intel IFS in fight with TSMC and Samsung.
Anyway what is done is done and what we are seeing is impact of what was not done. TC was able to retain CEO position and probably have his share paid to him as soon as it is one year post IPO. He will be out for sure but he is leaving a sinking boat with no hope to survive. He is really biggest culprit to put GF in this state of he-l.
Eye opening moment for Mubadala as they keep getting deceived again and again. Surprisingly they did not grab intel offer that was so enticing. I doubt anyone will buy even half the prize now.
It really stinks that employees are put in this position. Folks go to school in some cases 8+ years to get a Phd or Post doc and then there is limited stability in the semiconductor area, even less at GF which will be financially managed and knee jerk reactions happening every quarter. Yes, the semiconductor industry has cycles, our senior leadership team missed this one, it basically blindsided them. However, instead of burning all the profits during record quarters how about setting some aside for the down quarters so you don't have to keep laying off people. This is the problem at GF our vision is horrible, we are so focused on short term results we have no strategic plan. It is clear our CFO is being groomed to be the next CEO at GF; The real issue is we are 100% managed according to short term financials now instead of having any strategy. The only reason I can think you would do this is to short-term drive the market cap up so you get more money when we try to sell to Intel or Samsung, I'm guessing TSMC wouldn't want GF they already have everything GF has and more. It is hard to figure out what the investment firm and our senior leaders are really trying to accomplish currently other than to meet short term financial targets which will in turn ki-l strategic projects and eventually your revenue will decline because you don't have the next thing your customers need.
Good luck everyone with the upcoming actions, hopefully if you want to stay with GF you get to and if you want to leave you get the package and it meets your short-term needs.