SolarEdge, a solar inverter manufacturer, lays off 16% of its workforce
SEDGSolarEdge(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 employe ...