Tesla is laying off employees. What will its share do?

Nothing will surprise us

 

Tesla’s is continuing its integration with SolarCity, following the solar-energy company’s multibillion-dollar acquisition late last year. It was announced that 63 positions will be phased out at the SolarCity office in the Northern California suburb of Roseville, which brings the total of jobs terminated to 204. According to Tesla, the move comes as a centralizing effort within the sales, customer support and information technology operations. SolarCity’s founders themselves have both left the company this year, after being acquisitioned by their cousin, oh sorry, Elon Musk.

The solar market has evolved significantly in the US this year, with solar installations rising 8% in the second quarter, but that growth continuation remains to be seen. The market is forecast to decline by about 17% for the year, thanks in part to weaker residential demand.

Conservatively, employment cuts are good for business, as they signal less overhead and efficiency measures, but when discussing Tesla, ‘conservatively’ should not be in your vocabulary. This small restructure may send its share skyrocketing, fall flat on its face or remain calm as a solar panel. Your prediction is as good as ours.

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