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Benzinga
Benzinga
Business
Akanksha Bakshi

SolarEdge Shutters Energy Storage Division, Slashes 500 Jobs In Solar-Centric Pivot: Details

SolarEdge Technologies (NASDAQ:SEDG) announced plans to shut down its Energy Storage division to focus on core solar operations.

SolarEdge plans to cut around 500 jobs in South Korea as part of the discontinuation, mainly in manufacturing roles. This represents about 12% of the company’s workforce, with most layoffs occurring in the first half of 2025.

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