This round of GF pivot spin should be even more entertaining after the March denials.
What's next?
14 replies (most recent on top)
Maybe that's a good news for FAB10 employees who could survive in the layoff. Merger /Acquisition always mean layoff sooner or later.
This is a good move for ON and a huge win for Fab10 employees. They are off the sinking ship of Global Flounderies, and Fab10 is a solid fab. IBM ran it into the ground, but it is a real quality built fab with lots of life ahead of it. Glad for my friends at Fab10. Hope Ess-x will be next to go to a good home.
Such a big fraud TC..
ON Semiconductor is a solid company. FAB10 employees are the big winners here
It's obvious Mubudala is done with GF. Everything is for sale, most likely. Dresden will likely be next to go. Malta might find a buyer, but it's going to sell at a big discount. Burlington might sell too, but they are old with high operating costs. Not sure who would want them.
Techinically, a giveaway is not a sale.
Worked hard and failed
now all I can say is
I threw it all away.
Oh, I was just a boy
giving it all away...
Who said its a sale? It’s a “partnership” Do you know the difference? 😄
But GF just told everyone in press releases last month that no fabs are for sale! Does this mean they pivoted the pivot? Lol...
https://www.globalfoundries.com/news-events/press-releases/semiconductor-and-globalfoundries-partner-transfer-ownership-east
Official News release from GF site
https://apnews.com/Business%20Wire/5bb61006ab764d04b6ef3cc9a6c4b89b
Fab 10 sold to On Semiconductor
SLT said it's not their fault - they just did that McKonsultantants advised to do. As long as SLT keep collecting fat checks and bonuses - why'd they care about company bottom line, employees or public image?
FAB10 just rehired a large amount of their laid off staff. So GF lays off and give packages ($$$) and then turn around and hire them back. Someone in SLT should be fired. Clearly there is no accountability at any level at GF.
Do you have a link to confirm?