In a recent meeting led by R.T. Senior Vice President, announced plans to reduce staff in his org in specific locations:
Santa Clara and Malta and BTV (20% Reduction):
Focus on middle managers and directors.
India (10% Reduction):
Similar impact on middle managers and engineers work on abandon technologies.
The official announcement is expected by the end of May.
12 replies (most recent on top)
Any new notification or updates?
If they have to do layoffs in India (India!) then the company is indeed in a deep trouble
@4lmq this would be the biggest joke ever if RT became CEO. RT is a brain-dead buffoon who knows nothing about the Semi Foundry world. Ever since the PDK was outsourced under his leadership (probably not the right word, maybe under his demise) it really su-ks and his organization is filled with newbies from low-cost geos who most all hate working in his organization, they stay for 1-2 years and then leave. People want a very intelligent and strong leader with a strategic vision that grows a company and an organization, not someone whose sole vision is to outsource as many jobs as possible, any id--t can do that and ruin a company!!
Haha - it’s funny because it’s spot on accurate to their thinking logic patterns. So yea, sounds about right
If true it’s the end for US based operations. They will expedite the “trimming of the fat,” and go to a skeleton crew that just runs and maintains the fabs
Guess we will see in just a few days
There are rumors about replacing TC with Ri Tr as the new CEO. He has caught the attention of TB and Mubadala as best cost saving person
The packages will get smaller and smaller. Eventually there will be no package. And knowing GFs logic: they will spin with your package was the extra x years you got work here through the other layoffs. I can hear it now. There is no package because you got 3 extra years to earn money!
What will the separation package look like? Reduced I bet!!
It's time the ship sank and rebuilt from the keel up.
Yes a blood bath is coming. Probsbly announced during earnings call on may 7th. It’s going to be a big one.
@2jop, you are 100% correct. RT has always been a minion of TB (COO). TB has the opinion engineers are just replaceable widgets and hiring one in a lowest cost geo at 1/5 or 1/3 the cost is a great financial strategy, get rid of the 10-20 year experienced leadership producing engineers and replace with newbies in low-cost geos. Of course, RT has zero vision of his own and he just sees the path to promotion is to outsource everything and lower costs. What both TB and RT don't understand is without leadership differentiation in the older node markets GF plays in they are just a bottom feeder competing on lowest costs to get wafer starts. TB has been ruining GF since he joined, leaders before current CEO TC ignored TB who was just a spy from Mubadala to watch what the CEOs did. Now TC is TB's puppet and RT is TB's minion, the more outsourcing RT does, the more raises/promos he gets while the company continues to sink because both TB and RT have zero technical background about what makes a technology differentiated. Anyone can reduce costs and run the company into the ground, the current SLT seems to be extremely skilled at doing this while padding their own pockets. GF needs to clean house before the Titanic sinks!!
RT is everything that is wrong with GF. He got promoted for outsourcing staffing and NOTHING more. The PDK with all the outsourcing has gone from leadership in RF area which IBM gave GF to significantly lagging the industry. Have you ever seen competitive benchmarking done on GF's PDK? Never and you won't because the results would be embarrassing how far GF's PDK is behind the industry. Anyone can outsource staffing and produce an industry lagging widget, the real problem is GF must be differentiated to succeed and leaders like RT have no strategy and are the reason GF is a sinking ship!! Need to clean house at the SLT including CEO and get rid of leaders who can't produce differentiating widgets in their areas or else GF will completely sink!!
GF is the worst.