The CEO change didn’t help either: Solaredge is laying off hundreds of employees

The renewable energy company Solaredge announced today (Monday) two new transactions in the American market, with companies operating in the field of installation and financial financing of home solar systems. At the same time, the company announced another wave of layoffs of 400 employees, about half of them in Israel, which will leave it with only about 3,300 employees. Following the moves – the company’s stock jumped by about 11% in early trading on Wall Street.

This is the third wave of layoffs for what was once one of the flagship successes of Israeli high-tech in the world, after three waves in which it said goodbye to 1,800 employees in 2024. While the previous three waves took place under the previous CEO Zvi Lando, the current moves were carried out by the CEO The new one is Shoki Nir, who took office in December.

In a letter to employees, Shuki Nir wrote: “The cuts will affect all departments in the company, both within our headquarters and in the regional teams. They will affect people who have made important contributions to SolarEdge over the years, bringing expertise and depth to their fields. We know the meaning and impact of these measures For the injured workers and their families. We carefully consider each person, and are committed to handling each case with fairness and respect.”

Solaredge Technologies Ltd. is an Israeli high-tech company, engaged in the development and production of systems for extracting the power of photovoltaic solar energy facilities, and in systems for monitoring and controlling performance. Solaredge, which was established as a startup company in 2006, is currently a public company whose shares are traded on NASDAQ. K. The company was considered one of the great successes of Israeli high-tech after going through all the stages from a start-up company to a public company traded at a value of over 18 billion dollars, but in the years 2023-2024 there was a significant decrease in its market value, at a rate of 97 percent to 874 million dollars in November 2024 .