[News] GlobalFoundries Reportedly Cuts U.S. Jobs, Says CHIPS Act Funding Involves No Equity

According to Times Union, chipmaker GlobalFoundries said it has made “adjustments” to its workforce at Fab 8, its plant in Malta, Saratoga County, New York. The report notes that despite the company’s ongoing $16 billion expansion of its manufacturing operations in Malta and at its older facility near Burlington, Vt., there have reportedly been recent layoffs at Fab 8.

It remains unclear how many employees and which roles are affected. The report adds that GlobalFoundries employs about 2,300 people at the Luther Forest Technology Campus in Malta, where Fab 8 is based.

GlobalFoundries: CHIPS Act Funding “Well Intact,” No Equity Involved

Aside from the reported layoffs, news of the U.S. government taking a 10% equity stake in Intel has raised concerns for other CHIPS Act recipients, including GlobalFoundries. As Reuters notes, GlobalFoundries said Wednesday that its CHIPS Act funding remains “well intact” and emphasized that the framework does not involve any equity.

According to Times Union, GlobalFoundries has been awarded a $1.5 billion CHIPS Act grant to support expansions in New York and Vermont, including the construction of a second factory in Malta.

Apple Partnership and $16B Plan Bolster GlobalFoundries’ U.S. Push

Earlier this month, GlobalFoundries announced a deeper collaboration with Apple to advance semiconductor technologies and strengthen U.S. manufacturing. The partnership will support expanded investment at GF’s semiconductor facility in Malta, New York.

This aligns with GlobalFoundries’ broader U.S. investment strategy. In June, the company announced a $16 billion plan to expand semiconductor manufacturing and advanced packaging capabilities across its New York and Vermont facilities.

According to TrendForce, GlobalFoundries ranked fifth among the world’s top ten foundries in Q1 2025, with revenue falling 13.9% quarter-on-quarter to $1.58 billion.

Read more

• [News] GlobalFoundries Partners with Chinese Foundry for Localized Automotive-Grade CMOS Production
• [News] GlobalFoundries Commits $16B to Strengthen U.S. Semiconductor Manufacturing

(Photo credit: GlobalFoundries)