Almost doubled revenue, cut 20% of workforce but no reduction in losses.
Solarcity widens net loss 2016 and cut workforce last year by 20 percent
© Solarcity Corp.
03.03.2017: US solar installer Solarcity Corporation achieved total revenue of $730 million in 2016, compared to $399 million in 2015 (including operating leases and solar energy systems incentives, solar energy systems and components sales). Net loss increased to $820 million in 2016, compared to net loss of $768 million in 2015.
According to the annual report for the fiscal year 2016, as of December 31, Solarcity had approximately 12,243 total employees. This is about 20 percent less than at the end of 2015, when the company filed 15,273 employees. In January 2016 alone, following the recent actions by the Nevada Public Utilities Commission, »we were forced to eliminate more than 550 jobs in Nevada, primarily affecting personnel in operations, installations and manufacturing, as well as sales and marketing related departments,« says Solarcity in its annual report 2015. Compared to fiscal year 2014, in 2015 the number of total employees increased by 68.7 percent.
In November 2016, the shareholders of Tesla Inc. have approved the acquisition of Solarcity (as reported).
Monty Bannerman
ArcStar Energy
+1-646-402-5076
www.arcstarenergy.com
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