Tesla's SolarCity Buyout Looking Worse By the Day
Multiple reports have surfaced that Tesla (NASDAQ: TSLA) is firing more workers from the former SolarCity operations than previously disclosed office closures. The Roseville, California office is expected to lay off 205 workers, but the recent performance review-related layoffs have reportedly spread across the country. CNBC is even reporting that these performance reviews didn't actually take place, indicating that Tesla is just trying to eliminate workers from its solar operations.
SolarCity workers have a right to be concerned for their job safety, but Tesla's investors should be concerned as well. A year after paying $2.6 billion for SolarCity, Tesla appears to be shutting down the company's operations at a speed no one anticipated. If the trend continues, there may not be much of a solar business left.
Image source: Getty Images.
Source: Fool.com
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