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 $325 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 making ...