A fabless AMD?

According to the article “Re-engineering AMD” in Fortune´s BigTech blog AMD plans to spinoff it´s fabs:

Since it can’t afford to do this anymore, AMD plans to spin off its chip manufacturing operations by year’s end, probably by hawking them outright or by inking a partnership with a larger chipmaker – a maneuver akin to selling a house and leasing it back.
“We’re going to go away from a captive fab model to more of a fables model for the CPU part of the business,” Meyer says. “Longer-term, it relieves us of the burden of having to shell out cash for these gigantic factories. So it will be more of a pay-as-you-go model like a traditional fables semiconductor company.”

Not a good news. I hope that this spin-off won´t lead to lay-offs for the fine people at the Dresden fab.