GlobalFoundries sells subsidiary; reports of layoffs

ESSEX JUNCTION, Vt. (WCAX) GlobalFoundries has completed the sale of part of its company, impacting employees at their plant in Essex Junction.

WCAX News has confirmed a company called Marvell completed its acquisition of Global's Avera Semi business Tuesday. This was one of the subsidiaries of IBM that Global acquired when it bought the Essex Junction plant four years ago.

We don't know exactly how many people were working for Avera in Vermont but we're told by GlobalFoundries they all now work for Marvell. But it is unclear what happens to those workers.

We have been getting reports of layoffs. We reached out to Marvell for comment numerous times Tuesday but have not heard back.