SolarEdge Technologies, a global manufacturer producing inverter, energy storage, EV and smart home technologies, is cutting its global workforce by 16%, or approximately 900 employees. About 500 of those people work in its manufacturing sites.
The company stated in a press release that this “reduction follows measures … to align with current market conditions.” SolarEdge is ceasing manufacturing in Mexico, reducing manufacturing in China and cutting its light commercial vehicle e-mobility services.
“We have made a very difficult, but necessary decision to implement a workforce reduction and other cost-cutting measures in order to align our cost structure with the rapidly changing market dynamics,” said Zvi Lando, CEO of SolarEdge. “We are making every effort to treat our departing colleagues with respect and gratitude for their contributions and support them in their transition. We remain confident in the long-term growth of the solar energy market and our leading position in the smart energy space. These changes do not impact our strategic direction and priorities and we remain committed to continue to drive the renewable energy transformation, while providing best in class technology and support to our customers.”
Solar Power World has contacted SolarEdge for further comment and clarification on breakdown of the lay offs and manufacturing cuts.
News item from SolarEdge