Globalfoundries Cuts 5% of Workforce
No fabs, products planned for cuts
6/11/2018 06:01 PM EDT
SAN JOSE, Calif. — Globalfoundries has started a layoff aimed at trimming 5 percent of its workforce as part of its new focus on financial performance. The company does not plan to close any fabs or cut any of its existing services.
The layoffs will affect about 900 of GF’s 18,000 employees, “across a variety of functional areas and all geographies,” a company spokesman said. “We remain fully committed to delivering our roadmap,” he added.
The company informed workers of the cuts on Monday (June 11). It will offer a voluntary separation program it expects many people will accept.
The effort aims “to improve our global cost structure and minimize redundancies that have accrued from previous mergers and acquisitions” and could take several weeks to complete, the spokesman said.
To read the full article, click here
Related Semiconductor IP
- 6-bit, 12 GSPS Flash ADC - GlobalFoundries 22nm
- All Digital Fractional-N RF Frequency Synthesizer PLL in GlobalFoundries 22FDX
- eFPGA on GlobalFoundries GF12LP
- ADPLL 2GHz Clock Generator - GLOBALFOUNDRIES 22FDX
- MIPI C/D Combo PHY RX - GlobalFoundries 22FDX
Related News
- inSilicon Corporation Announces Workforce Reduction as Part of Ongoing Expense Reduction Program
- TranSwitch Corporation Announces a Workforce Reduction and Other Cost Savings Initiatives
- Hyperstone doubles its workforce, reports excellent business in 2002.
- Altera’s New MAX II CPLD Family Delivers Dramatic Reduction in Cost and Power Consumption
Latest News
- Cadence and Google Collaborate to Scale AI-Driven Chip Design with ChipStack AI Super Agent on Google Cloud
- Analog Bits Demonstrates Real-Time On-Chip Power Sensing and Delivery on TSMC N2P Process at TSMC 2026 Technology Symposiums
- TES offers a High-Frequency Synthesizer and Clock Generator IP for X-FAB XT018 - 0.18µm BCD-on-SOI technology
- Faraday Delivers IP Solutions to Enable Endpoint AI Based on UMC’s 28nm SST eFlash
- AiM Future Partners with Metsakuur Company to Commercialize NPU-Integrated Hardware