News GlobalFoundries to Lay off Nearly 6% of Staff by End of 2022

[Admin]

GlobalFoundries to cut less than 800 of jobs globally by end of 2022.

GlobalFoundries to Lay off Nearly 6% of Staff by End of 2022 : Read more

 

[linuxdude]

they'll die a profitable death, the only thing that is left to do after the decision to stop developing new process nodes.
Mubala stopped half-way, in order to make their plan succeed a lot more money would have to be spent on new fabs and process development - instead they bought all those half-defunct fabs which no longer could compete with samsung and tsmc.

 

[sygreenblum]

There are chips in everything nowadays. You don't need to be on the leading edge to be profitable. The 12/14nm and 28/32 whatever they want to call it, will be in production for another 20+ years with more and more demand as products on bigger nodes transition and newer products and newer gadgets come to market. In fact the not bleeding edge products make up the bulk of the market and have expanded many times faster than the bleeding edge. You just don't hear about 1,000+ chips in each modern car or multiple chips in remote controls, smoke detectors, batteries, surge protectors, fly swatters, etc.. whatever you can think of. Everything has chips nowadays and the majority are not leading edge.

 

[Co BIY]

Commodity chips are and will be a good business. What they won't be is one with 50%-60% margins. That's why the accounting and cost cutting has to be done quicker and tighter to market conditions.

 

[umeng2002_2]

Someone tell car manufacturers to switch to Global Foundries. They clearly need the business.

 

[watzupken]

I feel this may be the beginning of pains ahead for foundry businesses. It is true that demand for electronic chips have increased drastically over the years, but a lot of shortages seems to be attributed to lack of some sort of raw materials due to supply chain disruptions. Yet, every foundry have double or triple down the fab expansion without fully addressing the shortages of the materials required. With recession, inflation and high cost of borrowing hitting every country hard, it will not be surprising that demand for chips will continue to fall for the foreseeable future.