Enphase Energy Layoffs
Industry Energy · Location SF Bay Area · United States · Subscribe (RSS)
Enphase Energy has 2 publicly reported layoff rounds on record between December 18, 2023 and November 11, 2024. A total of about 850 employees were affected across these rounds.
Layoff history
Enphase Energy said on November 11, 2024 that it would cut approximately 500 employees and contractors, representing 17% of its global workforce, as slumping residential solar demand in both the United States and Europe forced a second major restructuring in less than a year. High interest rates had suppressed U.S. rooftop solar installations, while policy shifts and lower electricity prices weakened demand in the Netherlands and Germany. Microinverter shipments for the first nine months of 2024 fell below the company's output in Q1 2023 alone. As part of the restructuring, Enphase will also terminate its contract manufacturing operations in Guadalajara, Mexico, consolidating production across two U.S. sites, one in India, and one in China. CEO Badri Kothandaraman noted that "many large solar equipment companies and installers have faced significant cash flow issues, with some even filing for bankruptcy." The company projected one-time restructuring charges of $17 to $20 million. No severance details were publicly disclosed.
Reason: Residential solar demand slump in U.S. and Europe; restructuring
Source: sfgate.com
Enphase Energy disclosed a workforce reduction affecting its SF Bay Area operations in December 18, 2023. Approximately 350 roles were eliminated.
Source: enphase.com
Data for Enphase Energy is compiled from public WARN Act filings and reporting linked above. See our methodology.