SolarEdge Technologies, Inc. has announced a restructuring plan which includes a 16% reduction in its global workforce, accounting for around 900 employees. This reduction affects 500 manufacturing roles globally, aligning with previous measures like discontinuing manufacturing in Mexico and reducing capacity in China. The company emphasizes the necessity of these actions to adapt to market dynamics and assures its commitment to long-term growth in the solar energy sector. Despite the challenging decision, the company says it remains steadfast in its strategic direction.
SolarEdge announces workforce reduction in response to market dynamics
SolarEdge plans to reveal the specifics on global workforce reduction in its forthcoming earnings report, which is due in February 2024. Image Credit SolarEdge.
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