Just read a very good article covering not just 7nm withdrawal, but giving an insightful picture of where GF is heading in the future. Maybe it was the right decision not to pursue the production of 7nm chips, keeping in mind that the development of that technology is expensive and that the 7nm chip market is already getting crowded with competition that’s a long way in front of us. I just hope that “getting back to doing what we know best”, doesn't result with any reduction in the headcount of employees, giving that a lot of money has been put in 7nm, and more will be needed for the development of technologies that we are going to pursue.
https://www.electronicdesign.com/embedded-revolution/globalfoundries-focuses-what-it-does-differently