SolarCity Is Slashing 550 Jobs

January 6, 2016, 3:47 PM UTC
August 4, 2015- Buffalo, NY-- Governor Andrew M. Cuomo today participated in the “topping off” ceremony of the new, 1.2 million-square-foot SolarCity GigaFactory, which will manufacture solar panels at the RiverBend site in South Buffalo. As part of the ceremony, the Governor signed a steel beam that was raised into place atop the rapidly developing facility, commemorating the significant milestone for the project that broke ground just 11 months ago. The project will create nearly 3,000 jobs in Western New York and a total of nearly 5,000 jobs in the state. The SolarCity facility will be the largest of its kind in the Western Hemisphere, with one gigawatt of annual solar capacity when it reaches full production.
Photograph by Philip Kamrass/Office of Governor Andrew M. Cuomo

Solar panel installer SolarCity (SCTY) said it would cut 550 jobs in Nevada, two weeks after the state’s utilities commission approved changes that would reduce credits customers receive for selling excess solar power to the grid.

The company, which has more than 13,000 employees, said it would relocate the affected workers to business-friendly states.

SolarCity, which is backed by Tesla Motors’ (TSLA) CEO Elon Musk, ceased Nevada solar sales and installations in December, following the state’s decision.

SolarCity Chief Executive Lyndon said on Wednesday he was “convinced” that Nevada’s Governor and the utility commission “didn’t fully understand the consequences of the decision.”

Rive added that he was waiting to speak to Governor Brian Sandoval.

The company also said it had closed a training center in West Las Vegas it opened a little over a month ago.

The company’s shares were down 1.4% in early trading. Up to Tuesday’s close, the stock had fallen about 8.5% since the state’s decision on Dec. 22.