Reasons for layoffs in overseas energy storage projects
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3 FAQs about [Reasons for layoffs in overseas energy storage projects]
Will SolarEdge Technologies close energy storage division?
SolarEdge Technologies will close Energy Storage division, resulting in workforce reduction of ~500 employees, mostly in South Korea.
What happened to SolarEdge Technologies?
SolarEdge Technologies (NASDAQ: SEDG) +3.2% pre-market Wednesday after announcing plans to shut down its Energy Storage division, resulting in a workforce reduction of ~500 employees, mostly in South Korea. The company had laid off ~1,300 employees earlier this year; it had 5,633 employees at year-end 2023, including 725 based in South Korea.
How many employees does SolarEdge have?
The company had laid off ~1,300 employees earlier this year; it had 5,633 employees at year-end 2023, including 725 based in South Korea. SolarEdge (SEDG) said it expects to save $7.5M in quarterly operating expenses due to the closure, with the full run rate to be achieved by H2 2025.
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