GlobalFoundries' flaunting of awards like the 'Handshake Award' and 'Workforce Innovation Award' raises questions about their true significance in a landscape devoid of comparable competition. A conversation with the CEO, emphasizing the need for business impact on GlobalFoundries, contradicts the company's outward focus. While celebrating small achievements is human nature, the discrepancy between these accolades and the company's actual competitiveness becomes evident, particularly with its absence from the Wall Street journal’s list of best managed companies of 2023. The recurrent smaller layoffs and financial metrics, such as high non-cash earnings and a modest Return on Equity (13%), highlight potential mismanagement and undermine the credibility of these awards in reflecting the company's true standing. As such, exercising caution and scrutinizing the alignment between touted accolades and real market competitiveness becomes crucial, urging a closer examination before affiliating yourself with GlobalFoundries. Share your thoughts!!!
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Globalfoundries has a history of buying awards and accolades. We give an organization a “donation,” or someone in that organization some sort of kick back and poof like magic we win an award! There was a few very ironic HR based ones we won a year or two back about having low attrition and clever compensation techniques , etc. Which was absolutely bonkers because we all know how terrible such things actually are here. The people within these organizations should be called out for this corrupt behavior and held accountable. Also look at some of the committees and boards our SLT get appointed too. Look at the other board members and where they come from. Notice anyone missing from these boards? Any obvious or big names not represented? Where is Intel, tsmc, amd, etc.?? Things that make you go hmmmm. Just like the awards we pay for our SLTs appointments to such pointlessly uninfluential and insignificant boards. BUT! it goes give us stuff make press releases about or to post and boast about on social media! Hoo ra!
@qoa, #437 thanks for sharing, just horrible but you get what you deserve. GF continues to outsource many jobs, they are having secret layoffs this past week, GF has no portfolio roadmap, GF has become the Titanic and the question is when will it sink completely?
Well digging into the details of the sources it is ranked at 437 https://drucker.institute/rankings-2023/