Solaredge Repositions Itself: Solar Group Solaredge Announces Further Job Cuts

Milpitas, USA - The Israeli solar group Solaredge has announced additional restructuring measures as part of the company's reorganization. These include further job cuts.

The company announced in November 2024 that it would discontinue its utility-scale energy storage business as part of its focus on its core solar activities. According to the company, the closure of this storage segment will be accompanied by a reduction of 500 employees, primarily in South Korea.

With a view to the further development of the Group in a tense market environment, Solaredge has developed an operating plan for 2025 that includes factors such as current market conditions, time to market and the ramp-up of US production.

According to new Solaredge CEO Shuki Nir, the key challenge for 2025 is to achieve the financial stability required for a turnaround. In addition to the cost-cutting and personnel measures already announced, this will involve a further reduction in the workforce by 400 additional employees. Solaredge is also planning further measures to reduce expenses. Solaredge intends to announce further details in the coming weeks.

After a successful first week of trading in 2025 with an increase of 12.5% to a share price of EUR 14.89 (closing price on January 3, 2025), Solaredge's share has been unable to make any further gains in the current trading week following statements made by US President-elect Donald Trump. At a press conference, Trump announced that in his second term of office he would pursue a policy of no more new wind turbines being built. After four trading days in the current week, the Solaredge share is trading at EUR 14.90, the same closing price as the previous week (closing price, 09/01/2025, Stuttgart Stock Exchange).

Source: IWR Online, 10 Jan 2025