GlobalFoundries announced on June 11, 2018, that it planned to reduce its workforce by about 5%—roughly 900 of its 18,000 employees. The company said the global, cross-functional cuts would improve its cost structure and remove redundancies from earlier acquisitions; it said fabs and existing services would remain open.
What GlobalFoundries announced in 2018
EE Times reported that the reduction targeted about 900 employees out of a workforce of 18,000. The cuts were intended to span functions and geographies, rather than focus on one location. GlobalFoundries spokesman Steve Grasso said the company remained “fully committed to delivering our roadmap.” (EE Times)
GlobalFoundries said the effort would “improve our global cost structure and minimize redundancies that have accrued from previous mergers and acquisitions.” A significant portion was expected to come through a voluntary separation program, according to the company’s statement reported by the Times Union.
Why did GlobalFoundries cut 5% of its workforce?
The company’s stated reason was to reduce costs and address overlapping roles left by earlier acquisitions. Times Union connected the redundancies to integration of IBM and Chartered Semiconductor facilities acquired after GlobalFoundries was spun out of AMD.
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The cost challenge also reflected the scale of competition. Times Union reported industry estimates for 2017 revenue of about $6 billion for GlobalFoundries and $32 billion for TSMC. Those figures help explain the competitive context, but they are estimates reported at the time, not a company-issued comparison.
How many jobs were cut, and where?
The announced target was about 900 jobs, equivalent to approximately 5% of the reported 18,000-person workforce. GlobalFoundries had about 18,000 employees at 14 sites, including 10 chip factories, according to Times Union’s 2018 reporting.
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The company did not publish a complete breakdown by site, country, or job function. The reduction was described as global and cross-functional, and a significant portion was expected through voluntary separations; the available reporting does not establish exact allocations or how many employees ultimately left.
Were fabs closed, or was Fab 8 affected?
GlobalFoundries said the cuts would not close fabs or reduce existing services. Times Union reported that Fab 8 in Malta, New York, was relatively insulated: core manufacturing and the facility’s 7nm development were not expected to be affected. That statement describes the anticipated impact at the time, not a site-by-site accounting of final departures.
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How the 2018 action compares with later reductions
| Action | Approximate scale | Stated rationale and approach | Manufacturing impact |
|---|---|---|---|
| June 2018 | About 900 of 18,000 employees, or 5%, as reported by EE Times. | Improve the global cost structure and reduce acquisition-related redundancies; a significant portion was expected through voluntary separation. | The company said fabs and existing services would continue. Fab 8’s core manufacturing and 7nm development were not expected to be affected, according to Times Union. |
| December 2022 | Fewer than 800 employees before year-end; Times Union described the reduction as about 5% of the workforce. | Address softer semiconductor demand expected in 2023; the company also announced a hiring freeze and targeted $200 million in annual savings. | The cited report did not identify a fab closure or name a facility affected. |
The 2022 action was a separate workforce reduction, not evidence that the 2018 program continued. GlobalFoundries later disclosed that a February 2026 restructuring plan included employee workforce reductions and was intended to align its organization with its operating model and strategic priorities. That disclosure confirms further restructuring, but does not establish it as a continuation of the 2018 cuts. (GlobalFoundries, first-quarter 2026 results)
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