Computer Chipmaking Plant Cuts Jobs

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.

Mnet 174945 Global Foundaries Logo

ESSEX JUNCTION, VT — A spokesman for a computer chipmaking facility in Essex Junction, VT, 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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