Globalfoundries cutting 5% of staff

Globalfoundries cutting 5% of staff

Business news |
By Peter Clarke

The lay-offs are planned to take place mainly in Europe and the US one report said with implications that it would mainly impact Dresden, Germany – and Burlington, Vermont, a plant that came to the company with the acquisition of IBM Microelectronics in 2015. However, some of Globalfoundries oldest technologies and manufacturing sites are in Singapore.

Reportedly, the company remains committed to delivering its dual road-map of FinFET and FDSOI manufacturing processes and the trimming is intended to improve the company’s cost structure. The company added that advanced manufacturing at Fab 8 in Malta and the introduction of a 7nm manufacturing process remain on schedule.

The company replaced its CEO earlier this year and the incoming CEO, Thomas Caulfield, may be seeking to clear the decks. 

However, the private company, which is backed by Abu Dhabi’s sovereign wealth fund – Mubadala Investment Company – is thought to be struggling against its rival pure-play foundry TSMC at the leading edge. The company reportedly made a loss of $522 million in the first half of 2017 and has sought investigations of TSMC by the authorities for alleged monopolistic behaviour.

Related links and articles:

News articles:

Globalfoundries’ CEO steps down

Report: GlobalFoundries accuses TSMC of unfair selling

Report: Globalfoundries asks China to probe TSMC

Globalfoundries to add another NVM to FDSOI

If you enjoyed this article, you will like the following ones: don't miss them by subscribing to :    eeNews on Google News


Linked Articles