SolarCity Corp (NASDAQ:SCTY) is cutting jobs, costs and the pay of its CEO as part of a restructuring plan.

SolarCity revealed in a Form 8-k filing with the U.S. Securities and Exchange Commission that it will be incurring charges ranging from $3 million to $5 million. It noted that the majority of these charges will be for severance benefits paid to its employees.

SolarCity said that the majority of the charges will be paid out in the second half of 2016, but noted that this could change. It also noted that it plans to complete the restructuring plans by the end of the year.

“We’ve been adjusting our costs to align with the amount of solar we expect to install in the second half of the year, and unfortunately that also includes headcount reductions,” a SCTY spokesperson told Fortune. “Out of respect for those impacted, we’re not going to provide additional details.”

SolarCity CEO and co-founder Lyndon Rive had his salary reduced to $1 per year as part of the company’s efforts to save money. The same is also happening for Chief Technology Officer and co-founder Peter Rive. The two executives previously had an annual salary of $275,000 each.

The change in the the CEO’s and CTO’s salaries was approved by the Compensation Committee of the Board of Directors for SolarCity on Aug. 16, 2016. The new salary is the minimum allowed to be paid by law.

SolarCity said that the reason for the layoffs and pay reductions has to do with its expected solar panel installation guidance for 2016. It’s hoping to realign its operating expenses with a reduced guidance.

SolarCity announced in July that it has agreed to be acquired by Elon Musk’s Tesla Motors Inc (NASDAQ:TSLA) for roughly $2.6 billion.

SCTY stock was down slightly as of Thursday afternoon.