Foxconn 'mostly abandons' its Trump-hyped plant that promised tens of thousands of jobs

One of former President Donald Trump's most hyped jobs initiatives has turned out to be a spectacular bust.

CNBC reports that Taiwan-based manufacturing firm Foxconn has "mostly abandoned" its plans to build a plant in Wisconsin that the former president said would create more than 13,000 new jobs.

"Under a deal with the state of Wisconsin announced on Tuesday, Foxconn will reduce its planned investment to $672 million from $10 billion and cut the number of new jobs to 1,454 from 13,000," reports CNBC.

Foxconn's decision to abandon its ambitious plans comes after it received billions of dollars in incentives to open a plant in Mount Pleasant, Wisconsin that Trump promised would be the "8th Wonder of the World."

The Foxconn project was consistently shrouded in controversy, however, as many local residents were furious that their homes were seized and demolished via eminent domain for a manufacturing plant that never came to fruition.