Thread regarding GlobalFoundries layoffs

Sanity check: just to recoup recent “pivot move” induced damage: IBM contract breach plus EUV saying nothing about Fab11 investments with questionable ROI. IBM'ers ruling tribe acts in panic mode and prey for a miracle to keep their reign thru the next Investor review. What would it take to stop the bleeding – this is the question, not when the next round of layoffs will be announced.

As I stated, I am retired on the old pension system. I was at Fishkill a long time, and retired years before Global came into the picture. Fishkill wasn't the ghost town it is today in previous decades, especially after the big IBM cuts decades ago. Malta has, according to my near-retirement friends who are simply treading water until they can leave, excess personnel. They have too many facilities workers, too many process personnel, and they have engineers (recent grads) doing technician work. Old timers see this plain as day. Your management is going to run Malta into the ground just as they did Fishkill. Best of luck to you all. You're going to need it.

Yeah, I am not really sure how you think they ran EFK with "a lot less people" than Malta. EFK volume was looooooooowwwwwwwww and when GF acquired IBM, there were probably as many people at EFK as there were at Malta but with 1/3 the capacity. I agree with the excess management but the amount of work required vs the personnel with "boots on the ground" is getting more skewed every day. As more people (who are usually the more productive ones) leave, the rest are expected to take up their work. It doesn't look sustainable and continuous cutting will lead to a death spiral of good talent being overworked and exiting the doom-and-gloom for sunny skies in TX, CA, ID, UT, AZ, NM, etc. You will be left with the people who are tied to the area (very very few) or the young engineers who are not as mobile due to experience or the non-citizen/non-GC engineers who have no choice but to be an indentured servant at GF if they wish to remain employed in the USA-not a big morale booster.

I have no idea what the specifics are. Frankly, I don't much care, as I retired from IBM Fishkill years ago - soon as I was eligible to leave on the old pension plan. I don't know if Global is profitable or not. My thoughts are that it is, and has been unprofitable from day one, and that is likely to continue as long as ex-IBMers are in control. They appear to have excess personnel at the Malta site, compared to what we operated Fishkill with, and they appear to be following the IBM tradition of excess management as well. All I know is my old friends from Fishkill who came up to Malta are positive more layoffs are coming, and the one friend who works for the brass says she's overheard a lot of talk about payroll being cut by or in early 2019. As I stated, I do not work there, so all I know is what I've been told by others. They're operating by the IBM playbook though - cutting experienced talent in favor of cheap recent grads - so I'm sure Malta's outlook is as bright as that of Fishkill. Maybe if ATIC can sell Malta the buyer will be able to make a go of it. In my opinion, the plant is in a bad location, and, as I hear it, poorly designed and poorly constructed, so interest will be limited. My bet is any potential buyers of the site will be looking to use it for a distribution center or warehouse operation.

GloFo's focus is on reducing headcount and getting rid of the better paid technical workforce, even if it means, as in the last layoff, that the best and most experienced people get laid off. At least now the lack of experience, know how and talent amongst the technical workforce left over matches the quality of management. Alignment has been achieved!!!!

Previous poster wrote ".... Just that more layoffs are planned to increase profitability." Uhhh, don't you first have to have profitability before you increase it?

My earlier point was that they are going to want that headcount off the books in Q1/Feb 2019 for TC to get his bonus, so they will have to "do the deed" in Nov or Dec due to that pesky WARN Act. Mubby wants to dump this company and doesn't want to drag out the process while China and the world start taking valuation hits...hell, even black gold...texas tea...is taking a hit.

We are doing great. Even some promotions announced in some departments. Future is bright here.

That's what I hear. Friend is an executive admin assistant, and apparently they want to get headcount down to 2k with the next round in early 2019. She hasn't heard specifics. Just that more layoffs are planned to increase profitability.

I already left, you are the one left without a lifeboat while TC and SLT are sipping c---tails in their "lifeyacht". That graffiti you see is REALLY the writing on the wall - read it!

Just leave, if you are concerned with layoffs .. leave. Nothing holding you here, and you just start a bunch of panic. Go sit on the toilet and post drama at intel.

GF would only have to provide WARN notice in Nov if the actual separation occurs in Feb. With the recent action, affected employees are still "on the books" until they are officially separated on Nov 28, which is why GF could file the WARN at the same time people were being walked out the door.

If it is February, then they have to announce in Nov or Dec (2 or 3 month WARN depending on scale). The Glotanic is sinking and the crew (SLT) is throwing off the passengers (employees) as fast as they can to keep themselves afloat. From past experience, this is clearly an indication that Mub/ATIC wants to sell GF and keeps shedding "costs" to make it more appealing. It is a horse race to either to get a lower cost so someone will buy or it will cut too much and quality/output will be impacted (if it hasn't already) and will force a lower value and thus becomes a death spiral. My suspicion is company will be sold but likely broken into several parts for different buyers, it's the only way that makes sense.