RSS SolarEdge Technologies Layoff About 400 Employees

[Crax Bot]

SolarEdge Technologies (SEDG) announced on Monday its intention to cut approximately 400 jobs from its global workforce. This strategic move is designed to enhance operational cost efficiency and optimize resource allocation, ultimately aiming to improve the company's performance and financial solidity.

In its filing with the SEC, the company indicated that these layoffs continue its ongoing strategy to adjust to prevailing market conditions and curtail operational expenses. The company anticipates that reducing its workforce by about 400 positions worldwide will lower overhead costs and boost efficiency across various operational sectors.

These workforce reductions will adhere to local regulatory standards, with the company aiming to account for most associated charges in the first quarter of fiscal year 2025. It expects any remaining costs to be addressed throughout the rest of fiscal year 2025.

The material has been provided by InstaForex Company - www.instaforex.com

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