Pros
GlobalFoundries has a very good flexible work policy. In the Santa Clara location many groups allow work from home whenever you need it. Communication - senior leadership does a good job communicating where the company is today and where it is headed. Sanjay talks about the journey so it's easy to see where we are at. The bonus policy provides a great payout for performing employees. Merits are low. There is good movement opportunities between jobs for high performers.
Cons
GlobalFoundries still works like a combination of companies. Key decisions are still made at the site level when coordination across sites would produce better results. Work/life balance is non-existent. With locations across the globe including Europe, US East/West Coast and Singapore, most California days start at 7am and end at 9pm with the only break from 2-5. Santa Clara is the purported headquarters but feels like a satellite office. Without a FAB and without a CEO on-site (he's in San Diego) , there's little to make you feel "corporate".