GloFo’s Innovative Solution: Student Debt Repayment Program

GlobalFoundries Launches Student Loan Repayment Program

GlobalFoundries, a leading semiconductor manufacturing company, is taking a proactive step to support its employees by launching a student loan repayment program. This initiative aims to help both current employees and new recruits alleviate the burden of student loan debt.

The program, set to begin in early 2024, will provide eligible U.S.-based employees and new hires with a tax-free lifetime total of $28,500 towards their student debt. This financial assistance will enable employees to pay off their loans faster and with lower out-of-pocket expenses.

GlobalFoundries is committed to supporting its workforce by offering this program to all U.S. employees who have qualified student loans for any degree type or credit-based certificate program offered by U.S. universities and colleges.

"The blueprint for tomorrow's innovations is directly linked to the talent we cultivate today," says GloFo CEO Tom Caulfield. By implementing this student loan repayment program, GlobalFoundries aims to attract and retain top talent while also easing the financial burden on its employees.

Aside from the student loan repayment program, GlobalFoundries provides a range of other benefits to its employees. These include tuition reimbursement for those pursuing undergraduate and graduate degrees, fully paid parental leave (twenty weeks for birth parents and twelve weeks for non-birth parents), an employee fitness stipend to promote good health, and a childcare subsidy towards dependent care.

Furthermore, GlobalFoundries offers differentiated leadership development programs that encompass on-the-job training, a certified apprenticeship program, mentorship opportunities, and other professional development initiatives. These programs aim to foster the growth and advancement of employees within the company.