The world’s largest publicly traded energy utility is announcing plans to shut down 7 million solar jobs in the U.S. in response to plummeting energy prices.
The company said Tuesday that it plans to eliminate 5 million solar energy jobs across the country by 2021.
The plan is expected to create a cumulative 1.2 million jobs, or 5.2% of the company’s workforce, the company said.
The move comes as President Donald Trump prepares to sign an executive order to impose a nationwide cap on greenhouse gas emissions.
Trump has called for a global cap on CO2 emissions that would have to be in place by Jan. 1, 2026.
Duke Energy, which was founded in 1926, employs more than 890,000 people in the United States and more than 2.5 million in other countries.
In December, the utility said it was eliminating jobs at six of its coal-fired power plants in Ohio.