SolarEdge Technologies announced a significant workforce reduction affecting approximately 400 employees, including 200 in Israel, as part of a comprehensive cost-cutting initiative. The decision comes in response to market downturn, excess inventory accumulation in distribution channels, and slower-than-expected PV installation growth in Europe.The company is implementing measures to ensure financial stability and restore profitability through reduced cost structure and improved efficiency. Despite challenges in Europe, SolarEdge reports early signs of growth in North American installation rates and continues to expand its US manufacturing capacity to capitalize on IRA incentives.Moving forward, SolarEdge's strategy focuses on increasing customer satisfaction, developing next-generation products, and ensuring financial stability. The company plans to enhance product quality and service while expanding into new market segments such as ground mount, small-scale utility, commercial batteries, and trackers.

SolarEdge Technologies announced a significant workforce reduction affecting approximately 400 employees, including 200 in Israel, as part of a comprehensive cost-cutting initiative. The decision comes in response to market downturn, excess inventory accumulation in distribution channels, and slower-than-expected PV installation growth in Europe.The company is implementing measures to ensure financial stability and restore profitability through reduced cost structure and improved efficiency. Despite challenges in Europe, SolarEdge reports early signs of growth in North American installation rates and continues to expand its US manufacturing capacity to capitalize on IRA incentives.Moving forward, SolarEdge's strategy focuses on increasing customer satisfaction, developing next-generation products, and ensuring financial stability. The company plans to enhance product quality and service while expanding into new market segments such as ground mount, small-scale utility, commercial batteries, and trackers.