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Intel axes another 2,400 jobs in Oregon announced Friday. (www.tomshardware.com)

submitted 1 week ago by pdxfed@lemmy.world to c/portland@lemmy.ml

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Even with all those incentive dollars, tax breaks, and innumerable concessions this will always be what happens. Governments are captured by corporate money, power and influence and then governments give away the people's wealth and corporations take.

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[–] Zeppo@sh.itjust.works 3 points 1 week ago (1 children)

Is there any hiring or growth to offset these cuts? It seems like the US has lost a ton of well paying jobs in the past few years.

[–] pdxfed@lemmy.world 2 points 1 week ago

It's a good question, TBD. Don't read headlines and form opinions. Layoffs always make headlines, meanwhile unemployment is at historic lows. Historic lows, however doesn't count that many of the jobs that are available are awful and even working then full time will keep you in poverty.

Intel is Oregon's largest private employer at about 20k. 2500 jobs concentrated almost all in a few Portland suburbs will hurt the local economy. That said there are tons of other areas of insane grifting growth, AI, etc.