SolarEdge Announces a Global Workforce Reduction


The workforce discount will have an effect on roughly 16% of SolarEdge’s international workforce, or roughly 900 staff, of which roughly 500 can be from the Firm’s varied manufacturing places.

SolarEdge Applied sciences, Inc. (“SolarEdge”) (NASDAQ: SEDG), a world chief in sensible power expertise, at this time introduced a restructuring plan that features workforce reductions designed to cut back working bills and adapt the associated fee construction to present market dynamics.

The workforce discount will have an effect on roughly 16% of SolarEdge’s international workforce, or roughly 900 staff, of which roughly 500 can be from the Firm’s varied manufacturing places.

The discount follows steps already taken by the Firm to adapt to present market circumstances, together with the cessation of manufacturing in Mexico, discount of producing capability in China, and the termination of the Firm’s gentle industrial car e-mobility exercise. Extra particulars can be supplied within the Firm’s year-end earnings launch which is anticipated to be launched by the top of February 2024.

Zvi Lando, Chief Government Officer of SolarEdge, mentioned, “We made a really troublesome, however crucial determination to implement a workforce discount and different cost-cutting measures to align our construction with price of quickly altering market dynamics. each effort to deal with departed companions with respect and appreciation for his or her contributions and help them of their transition. We stay assured within the long-term progress of the power market in photo voltaic and our main place within the sensible power house. These adjustments don’t have an effect on our strategic path and priorities and we stay dedicated to persevering with to drive innovation in renewable power, whereas offering best-in-class expertise and help to our clients.”

About SolarEdge

SolarEdge is a world chief in sensible power expertise. By leveraging world-class engineering capabilities and with a relentless deal with innovation, SolarEdge creates sensible power options that energy our lives and drive future progress. SolarEdge has developed an clever inverter answer that adjustments the way in which electrical energy is harvested and managed in photovoltaic (PV) techniques. The SolarEdge DC-optimized inverter seeks to maximise energy era whereas minimizing the price of power produced by the PV system. Persevering with to advance sensible power, SolarEdge addresses a variety of power market segments by means of PV, storage, EV charging, batteries, electrical car powertrains, and options. in grid service. SolarEdge is on-line at solaredge.com



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