[Marine_Uncle]

"Globalfoundries, which currently is an AMD subsidiary. Under the updated agreement, AMD will be able to operate as a "fabless" processor company--one that relies on others to build its chips."
Well processing engineers at AMD and all the other folks who operate their fabrication lines. Get ready to be downsized. The writing on the wall at your company has now been written.

[Use as Directed]

Most AMD employees in Germany were transferred to Global Foundries; hence they have the same job that they already had.

ATI now AMD(/ATI) designs the chips and TSMC actually produces them. Same way it has been for a while. No job losses. Global Foundries may actually produce ATI chips instead of TSMC because of the terrible 40nm yields.