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Tesla layoffs prompt closure of several solar facilities

Elon Musk.
Tesla CEO Elon Musk. Photo: Joshua Lott/Getty Images

A residential solar business bought by Tesla a few years back will be "sharply" downsized because of the company's decision to cut 9% of its employees, Reuters reported Thursday.

Why it matters: The downsize raises questions about the company's viability. Tesla is not only closing facilities in several states, but is also ending an integral retail relationship with Home Depot.