Israel-based SolarEdge Technologies announced plans to lay off 400 employees globally, marking its fourth job cut in the past year, amid an industry-wide downturn. The company anticipated charges of $3 million to $5 million related to the layoffs, primarily in the first quarter of fiscal 2025, and expected annual savings of $9 million to $11 million. Previous layoffs occurred in January, July, and November, as SolarEdge managed excess inventory and weak demand in key markets, particularly Europe.
400 global jobs to be cut by SolarEdge Technologies
This is fourth round of layoffs from SolarEdge this year, as inventory challenges and weak demand persist in Europe. (Image Credit/Source: Marc Mueller /Pixabay )
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