SolarEdge Technologies to lay off 400 employees
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Solaredge stock dives 13% as company announces 400 more job cuts
July 15, 2024 9:56 AM EDTSolaredge Technologies (NASDAQ: SEDG) saw its shares plummet sharply on Monday following news of another significant round of layoffs.
The companys CEO Zvi Lando sent a letter to employees on July 15, detailing plans to lower the company's cost structure due to a market downturn, excess inventory, and sluggish demand.
The plan includes reducing the workforce by approximately 400 employees, with 200 of those... More
