Hello everyone, I'm preparing for an interview with GlobalFoundries, and I'm curious if anyone here has information regarding whether GF offers an Employee Stock Purchase Plan (ESPP). I'm keen to understand more about their benefits package and any insights or experiences you can share regarding ESPP or other investment-related opportunities within the company would be greatly appreciated. Thank you in advance for your insights!
12 replies (most recent on top)
ESPP took 5 working days to deliver after the closing dates. You can imagine what could have happened in 5 days.
check the growth/stock of gf
it is a sinking ship
The good news is around Christmas 2024 they will lay you off on their yearly layoffs, ending your pain and suffering working at GF.
Better stay away from Globalfoundries. It is sinking ship with rotten leadership at every level. Most of talents already left the company. The people left here are passing time and they are here as they are not able to find job anywhere else. Read the old posts as well. Avoid GF at all cost if you are starting career and you consider yourself as above average or competent. GF is dying and bracing for more layoffs to stay afloat. It has no future.
Unless you already live locally, GF is not worth relocating for.
If this is your deciding factor on whether you join Globalfounders or not, then don’t just walk- runaway. Globalfoundries is a terrible place to work. Just read through the past posts. it is a terrible place to try to have a career due to multiple reasons. Your best bet is to stay away and try to find employment at a competent employer.
Stay away, look for jobs elsewhere.
Company is not loyal to their employees.
Constantly a threat of downsizing.
Stock plan is ok. Only up $10 since going public
Thank you for the advice
ESPP is at or below baseline for the industry- as other comments have said, 50 shares at hire, for most geos (I’m not sure if India/Malaysia/Singapore are included) and a biannual slightly discounted purchase based on elective payroll deductions over the preceding 6 months.
The shares are taxed and you only get half of what they promised.
They also take the money you invested over the period of time and instead of buying the stocks at the lowest price throughout that time period, they buy it at the current price at the period end.
The ESPP is definitely not an incentive.
The "50" free shares is immediately taxed. You only get 26 actual shares.
Being a new employee, you will get 50 free shares. For the ESPP, you essentially get 120% shares for your 100% employee purchase for that half year. If you are a job level 7 or higher, you will get a stock bonus.