Business & Economy

GlobalFoundries lays off about a dozen in Vermont

GlobalFoundries
GlobalFoundries in Essex Junction. File photo by Sam Heller/VTDigger
ESSEX JUNCTION — Semiconductor manufacturer GlobalFoundries has laid off roughly a dozen workers at its Vermont location as part of a cost-cutting program.

The company had hoped to meet savings goals for its factories in Essex Junction as well as Malta and Fishkill, New York, through a voluntary buyout program, but company officials did not rule out layoffs when announcing the program in April.

The savings initiative is part of ongoing efforts to remain competitive in a constantly shifting global market, the company said. The workers who were laid off, as well as those who may have taken buyouts, were in support roles such as administration, sales or finance, according to company officials.

At the same time, the Essex Junction facility has yet to fill many of the 200 positions the company said it would hire. Those positions are largely for engineers and other skilled workers involved in the semiconductor production.

GlobalFoundries acquired the Essex Junction site from IBM in 2015. The company is headquartered in Santa Clara, California, but it’s owned by the investment company Mubadala — which in turn is owned by the government of Abu Dhabi, in the United Arab Emirates.

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Morgan True

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