Computer Chipmaking Plant Cuts Jobs

GlobalFoundries officials said that offers for early retirement failed to reduce costs at the Vermont facility.

A spokesman for a computer chipmaking facility in Essex Junction, Vermont, says they have cut more jobs after offers for early retirement failed to reduce costs.

Jim Keller tells the Burlington Free Press ( ) that the cuts at GlobalFoundries came from the finance and legal departments.

The company "came close" to meeting cost-cutting goals in April, but Keller says it needs to be more competitive in a global industry. He says fewer than a dozen jobs were cut.

GlobalFoundries took over IBM's chipmaking operations at Essex Junction in 2015. IBM, which had been losing money, paid the company $1.5 billion to take over the plant.

So far, the company has invested $72 million in the plant.

Keller says GlobalFoundries also cut jobs at its plant in East Fishkill, New York.

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