- December 21, 2022
- Posted by: Stratford Team
- Category: Economy
GlobalFoundries will lay off 148 employees in Vermont, according to a notice filed with the state this week. The $32 billion semiconductor company is Vermont’s largest private, for-profit employer, with about 2,000 workers at its plant in Essex Junction. The layoffs amount to about 7% of the company’s Vermont workforce.
According to state records, this is the first mass layoff event at GlobalFoundries’ Vermont plant since June 2018, when the company cut 116 positions.
“As we look to 2023, the entire semiconductor industry is facing softer demand as the overall economy slows, and although we cannot predict the depth and duration of these pressures, like others in our industry and across the technology sector, we initiated a hiring freeze and are selectively reducing our global workforce,” said GlobalFoundries spokesperson Gina DeRossi in a written statement to Vermont Public.
DeRossi noted that more of the…
