SolarEdge Technologies (SEDG) to cut 16% Staff

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Go back to SolarEdge Technologies (SEDG) to cut 16% Staff

SolarEdge (SEDG) stock rises after announcing 16% job cuts

January 22, 2024 6:03 AM EST

SolarEdge Technologies (NASDAQ: SEDG) announced on Sunday that it is reducing its workforce, affecting approximately 16% of its global employees, or around 900 staff members, as part of cost-cutting measures.

Shares rose 6.2% on the news.

This decision follows the company's discontinuation of manufacturing... More