SolarEdge Reportedly Set To Cut 16% Of Jobs Amid Plunging Demand
SEDGSolarEdge(SEDG) Investors Business Daily·2024-01-22 00:50

SolarEdge Technologies (SEDG) will cut 900 jobs, or 16% of its workforce, the solar power company announced Sunday, as demand continues to plunge. X The Israeli solar power inverter maker will cut 550 jobs in its home count. SolarEdge previously forecast Q4 2023 revenue to come in at 325million,down55325 million, down 55% vs. Q3 and 64% vs. a year earlier. Analysts currently see Q4 revenue of 371 million, with SolarEdge losing $1 a share, according to the FactSet consensus. SolarEdge lost 55 cents a share in Q3 after maki ...