The semiconductor industry is currently facing a significant challenge in recruiting workers due to the tight labor market. With the increasing competition for talent and the dispersal of funding from the CHIPS and Science Act aimed at boosting domestic production, companies in the semiconductor space are feeling the pressure. According to a 2023 study from the Semiconductor Industry Association, the U.S. chips industry is projected to experience a shortage of 67,000 technicians, computer scientists, and engineers by 2030. This shortage is part of a larger workforce deficit in the broader U.S. economy, which is expected to reach 1.4 million workers by the same year.
GlobalFoundries, one of the top three chipmakers globally, has been taking proactive steps to address this talent crunch by casting a wide net to recruit talent. The company has been targeting various candidate pools, including veterans, individuals from their workforce reentry program, and women in construction initiatives. GlobalFoundries creates chips for a wide range of products, from electronics and phones to automobiles, as well as components for space and defense. The company’s major clients include General Motors and Lockheed Martin.
In an effort to address the workforce shortage, GlobalFoundries launched the semiconductor industry’s first registered apprenticeship program in 2021. The program is full-time, paid with benefits, and requires no cost for training to the apprentice. It can be completed in two years or less, and only requires a high school diploma or equivalent with an interest in the mechanical field. GlobalFoundries has also been recruiting graduates with technical associate degrees from regional community colleges and veterans transitioning out of the military for the program.
Workers at GlobalFoundries have the opportunity for advancement within the company. For example, Morgan Woods, who started out as a technician at the fab facility in Malta, New York, has since moved into a training and development analyst role. Woods is responsible for overseeing training for technicians, engineers, and management, as well as ensuring compliance, particularly as the company expands into the automotive space. To further support its employees, GlobalFoundries launched a program in May that provides eligible U.S.-based employees and new hires with a tax-free lifetime total of $28,500 toward student debt.
Funding from the CHIPS and Science Act will also play a crucial role in bolstering growth for GlobalFoundries, particularly in its manufacturing fabs in New York and Vermont. The company announced $1.5 billion in planned CHIPS funding to expand manufacturing capacity, which is expected to create some 1,500 manufacturing jobs and 9,000 construction jobs over the lifetime of the projects. This funding, along with local and state money, aims to address the shortage of workers in manufacturing and construction and attract new, younger hires to the field.
The semiconductor industry is currently facing a talent crunch that is projected to worsen in the coming years. Companies like GlobalFoundries are taking proactive steps to address this challenge through innovative recruitment strategies, workforce development programs, and attractive benefits for employees. With the support of government funding, the semiconductor industry is poised to overcome the talent shortage and continue to grow and innovate in the years to come.
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