SolarCity Slashed 3,000 Jobs Last Year

(RTTNews) - SolarCity eliminated over 3,000 full-time jobs or about 20 percent of global workforce in 2016.

California-based SolarCity ended the year with 12,243 full-time employees, down from 15,273 employees in 2015. The job cuts mark the first annual decline in employee numbers since SolarCity went public in 2012.

Last year, SolarCity had announced it decision to cut jobs and reduce costs, as the company prepared for its eventual sale to Tesla.

The job reductions come as the company is planning to begin production at a new gigafactory in Buffalo this year. The gigafactory is expected to create 1,460 jobs and attract another 1,440 from suppliers and service providers.

Last year, Tesla Motors agreed to acquire SolarCity for $2.8 billion.