© GlobalFoundries
Business |
1,000 GF employee’s to transfer to onsemi following fab sale
Back in April of 2019, GlobalFoundries agreed to sell its 300 mm fab in East Fishkill, New York, to onsemi. The sale is now nearing completion and the fab, along with its employees will transfer to onsemi.
According to the agreement signed in 2019, onsemi will pay a total of USD 430 million, out of which USD 100 million was turned over at signing. The balance of USD 330 million will be paid at the end of 2022, at which time onsemi will gain full operational control of the fab and the site’s employees will join the company.
According to a WARN notice the date is now set and the 1,056 employees at the East Fishkill facility have been notified of layoffs expected to occur on December 31, 2022.
The notice continues to state that onsemi has made offers of employment – effective January 1, 2023 – to all affected employees.
