The semiconductor industry is intensifying its recruitment efforts in a tight labor market as funding from the CHIPS and Science Act boosts domestic production. This sector faces a projected shortfall of up to one million workers in the broader U.S. economy by 2030, fueled by the rising demand for generative artificial intelligence. According to a 2023 study from the Semiconductor Industry Association, the U.S. chips industry alone expects a shortage of 67,000 technicians, computer scientists, and engineers by 2030, while the broader U.S. economy will lack 1.4 million such workers.
A study from Deloitte indicates that the talent crunch in the semiconductor space could worsen due to global economic conditions and ongoing supply chain issues. GlobalFoundries, the world’s third-largest chipmaker, is aggressively recruiting talent, targeting veterans, participants in its workforce reentry program, and women in construction. The company produces chips for electronics, phones, autos, and components for space and defense, serving major clients like General Motors and Lockheed Martin.
In 2021, GlobalFoundries launched the industry’s first registered apprenticeship program. This full-time, paid program with benefits requires only a high school diploma or equivalent and an interest in mechanics. It is completed in two years or less and has graduated about 50 apprentices. The company recruits graduates with technical associate degrees from community colleges and transitioning military veterans.
GlobalFoundries is continuously filling hundreds of roles worldwide, hiring thousands annually. Chief People Officer Pradheepa Raman emphasized the importance of workforce development, cross-training talent, and identifying alternate talent pools. The company promotes internal advancement and emphasizes training and retaining existing workers. Morgan Woods, who started as a technician in Malta, New York, in 2021, now oversees training and compliance as a development analyst.
Woods benefits from GlobalFoundries’ new program launched in May, offering eligible U.S.-based employees and new hires up to $28,500 in tax-free student debt relief. This initiative has seen over 200 applicants, exceeding expectations. Woods anticipates improved financial stability, enabling future home purchases and family expansion.
The CHIPS and Science Act funding will also boost GlobalFoundries’ manufacturing capacity in New York and Vermont. The company announced $1.5 billion in planned CHIPS funding to expand manufacturing, creating an estimated 1,500 manufacturing jobs and 9,000 construction jobs over the project’s lifetime. Raman highlighted the need for an ecosystem approach to workforce development, positioning GlobalFoundries as an attractive workplace with robust benefits offerings.
READ MORE: