Enphase Energy to Cut Jobs as End of Tax Credits Dents Demand

Core Insights - The company plans to cut approximately 6% of its workforce as part of a broader restructuring effort [1] - This decision follows the expiration of a federal tax credit that has negatively impacted demand for residential solar panels [1] Company Actions - The workforce reduction is a strategic move to adapt to changing market conditions [1] - The restructuring aims to realign the company's operations in response to decreased demand [1] Industry Context - The expiration of the federal tax credit has created challenges for the residential solar panel market [1] - This situation may lead to further adjustments within the industry as companies respond to reduced consumer incentives [1]