SolarEdge to lay off 16% of its workforce as part of cost-cutting plan

SolarEdge Technologies Inc. on Sunday said it will lay off about 16% of its workforce, about 900 employees, as part of a restructuring to slash operating costs. “We have made a very difficult, but necessary decision to implement a workforce reduction and other cost-cutting measures in order to align our cost structure with the rapidly changing market dynamics,” Chief Executive Zvi Lando said in a statement. SolarEdge said about 500 of the layoffs will occur at its manufacturing sites. The Israel-based so ...