SolarEdge Adapts: Facing Further Layoffs Amid Solar Storm
In a turbulent turn of events, SolarEdge plans its fourth round of layoffs, cutting 1,800 jobs in 2024 amidst declining sales and excess inventory. The company has seen its stock plummet by 80% and market cap drop 95% from its 2022 peak, driven by reduced incentives and policy changes in the US and Europe. Under the leadership of new CEO Shuki Nir, SolarEdge is restructuring with a focus on core activities and closing its South Korean energy storage division.
Jan 7