A computer chip factory in upstate New York says it's eliminating 455 jobs as it restructures operations and moves away from cutting-edge chip technology.
GlobalFoundries detailed the cuts in filings with the state Labor Department Thursday afternoon. It says the first layoffs are expected to happen on Nov. 28.
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The company's Fab 8 facility in the Saratoga County town of Malta employed about 3,400 people before the restructuring.
GlobalFoundries announced in 2016 that it was investing more than $2 billion to produce next-generation 7 nanometer computer chips at Fab 8. On Monday, it said it was abandoning efforts to make the smaller, more powerful chips, and would focus exclusively on its current 14-nanometer chip line.
GlobalFoundries is owned by the government-backed Mubadala Development Company in Abu Dhabi, United Arab Emirates.