March 15, 2024 /SemiMedia/ -- According to reports, GlobalFoundries will complete personnel reorganization this year and lay off some positions in Singapore and Taiwan region, such as procurement, finance, etc., and plans to re-recruit these positions in India.
The report pointed out that despite GF’s strong third-quarter financial performance and solid fourth-quarter financial forecast, the company is seeking to control costs based on the current overall economic environment. GF's layoff plan is part of its measures to respond to changes in the global economic environment and control operating costs. It mainly affects non-productive positions, and the company is reorganizing its personnel by shifting its focus to India.
Several senior employees at GlobalFoundries in Singapore and Taiwan region said they had received notices that they would be laid off before Christmas this year.
Although GlobalFoundries has not yet announced that it will build a factory in India, industry insiders believe that judging from the company's transfer of some procurement functions to India, it is only a matter of time before the factory is built.
The report also pointed out that India is trying to become a new semiconductor industry center. The Indian government has previously approved the joint construction of a wafer factory by Tata Group and Power Semiconductor Manufacturing Co., Ltd., Samsung announced the establishment of a semiconductor research institution in India, and Renesas Electronics announced the establishment of a joint venture packaging and testing plant in India, and Applied Materials announced the establishment of a verification center in India.
