Enphase Energy to Lay Off 10% of Global Workforce in Restructuring Move

Benzinga 2023-12-19

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Enphase Energy, a manufacturer of microinverters that convert solar energy into usable electricity, will lay off approximately 10% of its global workforce. In addition to job cuts, Enphase will cease operations at two contract manufacturing plants and resize others. It will focus manufacturing on plants in South Carolina and Texas. The restructuring is expected to result in charges of $16-18 million that will primarily impact Enphase's fourth-quarter financial results.

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