Bluntly speaking, GF NEVER had a realistic roadmap to profitability. Massive billion dollar cash injections kept it artificially alive, most of the good managers already left for the competition who is making RECORD profits !!
It's not a question of whether a massive layoff would occur but rather WHEN.
However it is still a relatively GREAT job market out there . GF is one of the FEW under performers in the booming semi industry. It may in fact be a good time to start joining one of the WINNERS.
So look on the bright side ,... at least now you are MOTIVATED to join a REAL MONEY MAKING company instead of depending on oil welfare.