SolarEdge Navigates Restructuring Amid New Deals and Massive Layoffs
In a surprising turn, SolarEdge announced significant layoffs affecting 400 employees concurrent with securing new US residential solar deals. This restructuring move is part of broader cost-cutting measures following a dramatic drop in the company's market value from $18 billion to $874 million. Despite the layoffs, the company's stock surged by 11% in pre-market trading, suggesting a mix of optimism and caution among investors about SolarEdge's future under new CEO Shuki Nir.
Jan 17