GlobalFoundries plans to cut up to 800 jobs worldwide

 The US-based semiconductor manufacturer Global Foundries, which was separated from AMD in 2009, recently told employees through a virtual meeting that the company plans to lay off as many as 800 employees worldwide. , mainly non-productive jobs. It accounts for about 5.3% of the company's total global workforce of about 15,000.

According to VTDigger, GF's layoffs are not concentrated in any one geographic area, and these layoffs are planned to be implemented before the end of 2022. The layoffs will primarily be in non-productive positions and will include executive-level layoffs.

GF had previously released preliminary financial results for the third fiscal quarter of 2022 ending September 30. The company shipped 637,000 300mm wafers, an increase of 5% over the same period last year and a company record.

GF also reported record revenue of $2.1 billion, up 22 percent, record net income of $336 million, and adjusted net income of $368 million.

GlobalFoundries received $30 million in federal funding in October to help prepare for the development and production of next-generation gallium nitride-on-silicon semiconductors at its Conk, Vermont, plant.

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