Unemployment nearly 10%, Dell lays off

That beautiful building may become a dinosaur soon. Dell announced sizable cutbacks in personnel today at its still-new Winston-Salem area plant.

The stinging news hits simultaneously as the state, which is unable to send out tax refunds to it citizens, reports the unemployment rate has hit 9.7%.

N&R reports on the Dell news.

I can only think of two things...all that money. All that money spent:

In North Carolina, Dell received an incentive package from the N.C. General Assembly in 2004 with up to $225 million in tax credits spanning 15 years.

In return, the company was expected to create at least 1,500 jobs and invest $100 million over five years.

...and all that money lost:

In February, Dell says, its profit dove 48 percent in the fiscal fourth quarter as the recession has taken a toll on the computer market.

E.C. :)