GlobalFoundries Said to be Cutting 800 Jobs Despite Record Revenues in Q3

[ThrashZone]

So what you're saying is everything in the news, are leaks then?
To you there's only leaks and PR, nothing else?

Hi,
Nope there are also rumors but no special section for that so they land in the news section and are speculated here.
On the record = public release
Off the record = leak or rumor.

 

[claes]

Someone doesn’t read news outside of tech forums

 

[DeathtoGnomes]

Someone doesn’t read news outside of tech forums

See, now thats a leak.

Hi,
Nope there are also rumors but no special section for that so they land in the news section and are speculated here.
On the record = public release
Off the record = leak or rumor.

See that where this gets confusing, the company spokesperson confirmed the rumor.

 

[Why_Me]

Amen... all companies care about is short term stick prices, and if throwing out the work forcebis necessary ro do that, then that's what they'll do....ignoring the fact that workers having money to spend is what keeps recessions from getting worse. This is why state owned or partially state owned industries are an excellent way of acting as a backstop against recession....since they're state owned and don't have to run at a profit, they maintain their labor force, their labor force maintains disposable income, and our consumer based economies continue working.....it's worked great in the past.

It worked great for the Soviet Union ... or did it.

 

[tygrus]

GF is a lower tier fab unless they can license from TSMC or get another fab company to buy them. They could have been great but settled for 2nd best which is now middle of the pack.

 

[Diverge]

I hope GlobalFoundries cuts some of the fat from the executive tier then but I doubt they will.

Just wait until they come out with AI for management. Just imagine how much money can be saved by AI bots having meetings with other AI bots. All they do is make decisions, something that can be done with some programming. Keep pushing metrics, it will make it that much easier for bots to decide things.

 

[Wirko]

Just wait until they come out with AI for management. Just imagine how much money can be saved by AI bots having meetings with other AI bots. All they do is make decisions, something that can be done with some programming. Keep pushing metrics, it will make it that much easier for bots to decide things.

Judging by the quality of text that CEOs and board members are able to generate, I believe that 8-bit chatbots should be fully capable of replacing them. A recent good example ...

Arm Announces Appointment of Paul E. Jacobs and Rosemary Schooler to its Board of Directors

Arm today announced the appointment of new Board members Dr. Paul E. Jacobs, chairman and CEO of XCOM Labs and former CEO and executive chairman of Qualcomm Inc., and Rosemary Schooler, former corporate vice president and general manager of Data Center and AI Sales for Intel. Both bring...

www.techpowerup.com

"The unique insights and depth of experience that Paul and Rosemary bring will help us expand and diversify our Board while providing enormous value to Arm at such a pivotal moment in our journey," said Rene Haas, CEO, Arm.

Haas added, "Paul has an incredible track record of developing cutting-edge technologies and leading Qualcomm through an amazing growth phase, and Rosemary has demonstrated exceptional leadership capabilities, setting and executing strategic priorities, driving innovation and cultivating customer relationships across a variety of Intel's businesses during her long career there. I look forward to working with both Paul and Rosemary as we strengthen our leadership position in the semiconductor ecosystem and prepare for the public markets."

"I have worked with Arm from the early days of smartphones and the wireless internet," Paul E. Jacobs added. "As computing becomes ever more pervasive, this creates new opportunities to build upon Arm's market-leading position. I am excited to join Arm's Board and work with the world-class team here to help drive the next technology revolutions."

"Arm is poised to be a leader in the semiconductor and computing industries," said Rosemary Schooler. "Working with customers to solve their most complex technology challenges has been the focus of my career. I'm thrilled to join Arm and look forward to helping the company expand its connected computing footprint across the globe."