Globalfoundries to cut 5% of workforce

Discussion in 'Industry News' started by Calliers, Jun 14, 2018.

  1. Calliers

    Calliers HH's MC Staff Member

    Oct 12, 2004
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    “In the coming weeks, we will be initiating a targeted workforce reduction specifically designed to improve our global cost structure and minimize redundancies that have accrued from previous mergers and acquisitions,” says a GloFo statement, “this limited action will impact approximately 5 percent of our global headcount, with a significant portion expected to come from a voluntary separation program. The program is part of a companywide initiative to improve the competitiveness of our cost structure relative to industry peers. A workforce reduction is challenging for any organization and we do not take this action lightly. We are confident that these changes will position us to build a solid foundation for sustainable growth and continue investing for the future.”
    Source: electronicsweekly

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