ESSEX JUNCTION, Vt. (AP) — The company that purchased the IBM microchip plants in Vermont and New York is offering voluntary buyouts to many employees in response to a downturn in the industry.

GlobalFoundries Spokesman Jim Keller said Friday that the voluntary separation program has been offered to U.S.-based employees including those in Essex Junction, and East Fishkill and Malta, New York.

He said employees who choose the program will be offered incentives but he would not say what those were.

Gov. Peter Shumlin says it's important to note that this is a company-wide effort - not specific to Vermont - which is being driven by global market demands.

GlobalFoundries announced in July that it had completed its purchase of IBM's microchip plants in Vermont and New York.