SolarCity’s Holiday Grinching

Holiday parties have long been a good indicator of which companies are cutting costs and this year is no exception. We reported today how Jawbone has downgraded its annual event to a floor of its office building. Now there’s news that SolarCity has also pared back its company-wide holiday celebration in San Francisco into a smaller affair, spread out across at the company’s various U.S. offices.

The move has employees grumbling. Past events, as memorialized on social media, included fetes at a nightclub and cover bands. But the company recently reported a big increase in its net loss and revised growth expectations downward, causing the stock price to plunge. The CFO recently said he would leave and the CEO has pledged to focus on becoming cash flow positive.