The company informed workers of the cuts on Monday (June 11). It will offer a voluntary separation program it expects many people will accept.Source: EE Times
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.
GF is the world’s second largest pure-play foundry with 2017 revenues estimated at $5.86 billion by IC Insights. It started life as the spin out of AMD’s fabs, then acquired Chartered’s fabs in Singapore and IBM’s fabs in the U.S.
GlobalFoundries axes 5 percent of its workforce
Posted on Tuesday, June 12 2018 @ 10:10 CEST by Thomas De Maesschalck