The semiconductor industry is currently facing challenges in recruiting workers due to the tight labor market and the increasing demand for chips. This competition for talent is further exacerbated by the funding from the CHIPS and Science Act, which aims to boost domestic production. Additionally, the industry is projected to experience a shortfall of one million workers in the broader U.S. economy by 2030.
A study from the Semiconductor Industry Association revealed that the U.S. chips industry is expected to face a shortage of 67,000 technicians, computer scientists, and engineers by 2030. This shortage is expected to impact various sectors, including automotive, electronics, and defense. GlobalFoundries, one of the largest chipmakers globally, is actively seeking talent to fill these roles.
The company has implemented various initiatives to attract candidates, including a workforce reentry program, an initiative for women in construction, and a registered apprenticeship program. The apprenticeship program, launched in 2021, offers full-time paid training with benefits and is completed in two years or less. The program is open to individuals with a high school diploma or equivalent and an interest in the mechanical field.
In an interview with CNBC, Chief People Officer Pradheepa Raman emphasized the importance of workforce development efforts to meet the growing demand for semiconductor products. GlobalFoundries hires thousands of employees annually and is constantly looking to fill hundreds of roles worldwide. The company is focused on cross-training talent and identifying alternate talent pools to address the talent crunch in the semiconductor space.
One example of the company’s commitment to employee development is Morgan Woods, who started as a technician in 2021 and has since moved into a training and development analyst role. Woods highlighted the importance of compliance and training as GlobalFoundries expands into new sectors like automotive. The company’s new benefit offering, providing tax-free student debt relief, has already attracted over 200 applicants.
GlobalFoundries is set to benefit from the funding provided by the CHIPS and Science Act, with plans to expand manufacturing capacity in New York and Vermont. The company announced $1.5 billion in planned CHIPS funding to create manufacturing and construction jobs. By investing in workforce development and offering attractive benefits, GlobalFoundries aims to position itself as one of the best places to work in the semiconductor industry.