SolarEdge Announces 16% Workforce Reduction

SolarEdge Technologies, an Israeli solar energy company, is laying off 900 employees, including 550 in Israel, representing about 16% of its workforce, due to weak financial results and a fall in its share price. The layoffs are primarily at the company's headquarters in Herzliya. The decision comes as a response to the weakness in the solar energy market, and the company remains committed to its vision and strategic direction in leading the renewable energy revolution.