Thread regarding GlobalFoundries layoffs

Cash is a problem

If they are having to sell plants to cover current operating expenses, this charade isn't going to last long. If they can't convince a buyer to take Malta, I give them until the end of the year before they are firing people again, and probably closing the doors. Rapidly liquidating assets is a sign someone is about to fail on payroll and suppliers payments. Both are cutting your throat.

@YHWQkjN-1wqz hits the nail on the head.

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| 1731 views | | 7 replies (last April 23, 2019) | Reply
Post ID: @OP+YINw0nR

7 replies (most recent on top)

Yeah, you should really see a psychiatrist over your GF obsession. There's an expression called "Let it go." But then again, you probably are quite familiar with the terms "restraining order" and "yes, your honor."

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Post ID: @piu+YINw0nR

Stewarts isn't intended to be a career. But then, you shouldnt count on GF for that either.

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Post ID: @ixm+YINw0nR

GF has great time off, medical benefits, 401k, etc. that Stewart's would not be able to match.

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Post ID: @khf+YINw0nR

In 3 1/2 years those new hires will be fully trained and ready to work for ON Semi in Fishkill, NY (formerly FAB10)

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Post ID: @dgz+YINw0nR

You're more likely to have a job with Stewart's six months from now. Global? Maybe not. Definitely not several years out. That's why they aren't paying more than fast food wages for new hires. Those guys aren't intended to be permanent employees. When other manufacturers are having to shell out at least $45k a year to start for techs, why is Global offering so much less? Can't afford to pay more? Not looking for long-term employees? Check both those boxes.

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Post ID: @xmd+YINw0nR

What is the growth at Stewart vs growth at GF ? What will you learn at Stewart, what will you learn at GF. Do you feel more rewarded selling ice cream and c-gare--es or working on cutting edge tech ?

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Post ID: @zhi+YINw0nR

No doubt they have serious money problems. $15 an hour for techs? Any guy with a GED can pretty much get a tech job in any industry, anywhere in the US and pull in at least $20 to $25 an hr to start. Stewarts pay $15 an hour to store clerks. Global cant even afford to be competitive. And OJT will be a joke. Hope no one buys that. Anyone can see they're hiring temps for as little as possible to get promised product out the door. Then it's curtains for Fab 8.

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Post ID: @qgu+YINw0nR

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