SolarEdge Dismisses 12% of Workforce Following Massive $1 Billion Write-Down

In a significant move signaling struggles in the solar energy sector, SolarEdge Technologies Inc. has announced plans to reduce its workforce by 12%. This decision comes on the heels of an astounding $1 billion write-down, a substantial financial hit for the company that has raised concerns among stakeholders and investors alike.

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SolarEdge Sees A Significant Drop in Shares Amidst Disappointing Writedown Forecast

In a surprising turn of events, SolarEdge Technologies experienced a steep decline in its share prices, plummeting more than 20% in early trading following the announcement of a projected writedown that disappointed investor expectations. This sharp downturn indicates growing concerns over the company’s financial health and future profitability.

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