Tesla-Owned SolarCity Cut Work Force By 20% In 2016

APR 9 2017 BY ERIC LOVEDAY 4

Tesla Solar Roof production confirmed for 2017

The sun didn’t shine so brightly on SolarCity in 2016.

In a recent regulatory filing, SolarCity revealed that it had to slash 20% of it workforce in 2016 to conserve cash during a slow growth period for rooftop solar.

Tesla / Solar City

That doesn’t bode well for Tesla either with its recent acquisition of SolarCity.

SolarCity reported having 12,243 employees at the end of 2016, which was down 19.8 percent from the 15,273 employees listed for 2015.

Reuters adds:

“The cuts affected workers in operations, installations, manufacturing, sales and marketing, according to the filings. The number of people in general and administrative jobs has also fallen since June of last year, the company said.”

“SolarCity had announced job cuts before being acquired by Tesla but did not say how many employees would be laid off. Earlier in the year, it eliminated 550 jobs in Nevada after the state scrapped a key solar incentive.”

This downturn comes after employee growth of some 68.7% was reported for 2015.

SolarCity remains hopeful that the new Tesla / SolarCity solar roof tiles will revolutionize the industry and return the now-combined company back towards growth.

With that said, inside Tesla’s recent Q4 report, the company stopped short of giving any¬†specifics about the roll-out depth and timeline of that product, other than to re-confirm the partnership with Panasonic to build then – and that it would happen at its Buffalo, NY facility at some point this year.

Source: Reuters

Categories: Tesla

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4 Comments on "Tesla-Owned SolarCity Cut Work Force By 20% In 2016"

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speculawyer

It had to be done. Especially in view of that crazy Nevada anti-solar PV law. There will also be some slow-down as net-metering caps are hit and residential solar PV compensation systems are changed.

TomArt

Yes, solar incentives have been taking hits in various ways around the US. It is still a growing field, though. Total GW of installations (both residential and commercial) keep growing year over year, last I checked.

Solar stocks really took a hit. I can’t figure out why. Do people still think that rooftop solar is a passing fad?!?

Spider-Dan

If utility lobbyists can continue getting more anti-net metering laws passed, stock certificates for companies that rely on residential solar won’t be worth the paper they are printed on.

ModernMarvelFan

Just another proof that Tesla bailed out Solar City…