GE Core plans to lay off as many as 800 people worldwide

Thank you, Mr. Air, a netizen of CTOnews.com, for your clue delivery! CTOnews.com, December 3 (Xinhua)-- Global Foundries, a US-based semiconductor manufacturer, spun off from AMD in 2009 and recently told employees through a virtual conference that the company plans to lay off up to 800 employees worldwide, mainly non-productive jobs. It accounts for about 5.3 per cent of the company's global workforce of about 15000.

According to VTDigger, the layoffs are not concentrated in any geographical area, and these layoffs are planned to be carried out by the end of 2022. Layoffs are mainly aimed at unproductive jobs and will include layoffs at the administrative level.

CTOnews.com learned that GE Core had previously released preliminary financial results for the third quarter of 2022, which ended September 30. The company shipped 637,000 300 mm wafers, an increase of 5% over the same period last year, setting a company record.

Gexin also reported a record $2.1 billion in revenue, an increase of 22%, a record net income of $336 million and an adjusted net income of $368 million.

Grid Core received $30 million (211 million yuan) in federal funding in October to help prepare for the development and production of the next generation of silicon-based gallium nitride semiconductors at a plant in Essex Cork, Vermont.