I am so tired of all these fancy words being used just to avoid coming out and saying we are laying off people.
I guess "we are downsizing due to restructuring" sounds better than "we want more money so we have decided to get rid of x number of employees since that is the easiest way to do it."
Really gets my blood boiling.
The constant management changes (ex: I've had four site managers since 2011) were a nightmare but after the IBM management takeover it has been at least stable.
I still do not feel that we have any coherent path to profitability though. Too many chefs, too many mid tier managers acting like they run the place. Direction seems to change day to day, director to director, or even team member to team member. If everything is priority then nothing is priority.
Technical advancement is non-existent. Titles mean nothing, they gave out a bunch 2 years ago (I got one) just to keep everyone quiet when they only matched the title bumps with a 5% raise and gave everyone else nothing. I had to fight for a year to get another 5% off cycle raise.
I joined the company young but very early in it's life and my salary is a joke. Absolutely no loyalty for an employee who stuck it out and helped the company build while turn-over rate was 3 out of 5 employees.
During that time I have only seen an 8% raise once and I am rated in the top 15% (4/5 rating with the mandated bell curve means top 15%) of our company come review time, all 7 years. This rating stuck across 4 different direct managers so it's not one guy who likes my small talk. Every other year it's 3-4% for the top tier and half my bonus which becomes a measly 5%, CEO has never allowed a full pay out.
I cut my teeth in semiconductor with GF but I do not think that the future is bright. I found my niche in the company with a great manager and am very happy with the creature comforts of the site so it's a tough situation to leave.
Instead we are getting a "Transformation Update" at a Pivotable time of execution. Can Tom now say we are making the future possible???
The strategic shift to not try to build 7nm is because they can't, not because they don't want to. AMD, their self proclaimed #1 customer headed to TSMC for 7nm, and many will follow suit. A very sad time.
What's most frustrating is all the news reports are stating that less than 5% of the global population is being affected. What they aren't saying is over 500 from the Malta site specifically which is huge for a single site.
What was the package?
How about we are failing as a foundry and can’t continue the spew money to inadequate employees, is there anyone who knows who the inadequate are? I hope so otherwise the doors will close. Oil money has propped this place up for far too long and it’s been a long time coming. Many of the employees don’t even care except that they are getting a paycheck
It’s a sinking ship, you make it sound like they are doing because of greed. If you think it because of greed you are probably part of the useless and clueless employees who have brought the company to this step. This company is so f@@ked from the top down to the pee on that I’m not sure they know who the useless and clueless are probably going to get rid of actual/ mediocre talent for the useless and clueless. Engineers that know nothing about the equipment. This company has relied on the vendor to solve issues for years instead of taking the time to try to problem solve and develop there own experience so one day this company could manage without the vendor wiping there asses
Over 500 peeps