SolarEdge, a solar inverter manufacturer, lays off 16% of its workforce
SolarEdge(SEDG) Fox Business·2024-01-23 05:46
SolarEdge, a company that makes inverters for solar panels, will shed about 16% of its workers. The company said Sunday roughly 900 people will lose their jobs in a restructuring plan "designed to reduce operating expenses and align its cost structure to current market dynamics." It called industry conditions "challenging" in a filing with the Securities and Exchange Commission (SEC).The layoffs will occur over the first six months of the year, according to SolarEdge. More than half of the affected employee ...