Reported 16 days ago
Enphase Energy announced it will reduce its global workforce by about 17%, affecting around 500 employees due to declining demand in the residential solar market. The company plans to incur $17 million to $20 million in restructuring charges and will focus its operations in select locations while shutting down its manufacturing in Mexico. CEO Badri Kothandaraman pointed to ongoing market difficulties, including high interest rates and changing policies in Europe, as significant factors contributing to the company's restructuring strategy.
Source: YAHOO