U.S.-based semiconductor maker Global Foundries, which spun off from AMD in 2009, recently told employees via virtual conference that it plans to lay off up to 800 employees worldwide, primarily in non-production positions, about 5.3 percent of the company’s global workforce of about 15,000.
According to VTDigger, the layoffs are not concentrated in any one geographic area and are planned to be implemented by the end of 2022. The layoffs are primarily for non-production positions and will include executive-level reductions.
The company previously released preliminary financial results for its fiscal third quarter of 2022, which ended Sept. 30. The company shipped a record 637,000 300mm wafers, a 5 percent increase over the same period last year.
Gracore also reported record revenue of $2.1 billion, an increase of 22 percent, a record net income of $336 million and an adjusted net income of $368 million.
Gracore received $30 million (approximately RMB 211 million) in federal funding in October to help prepare for the development and production of next-generation GaN-on-Si semiconductors at its Essex Concrete, Vermont facility.
