Enphase cuts one U.S. factory and lays off 10% of global workforce
In a December 18 Securities and Exchange Commission filing, Enphase disclosed it is reducing its global workforce by about 10% and halting contract manufacturing at factories in Wisconsin and Romania.
In a message to employees, CEO Badri Kothandaraman said, “Over the last 12 months, the solar market has seen a lot of turbulence worldwide. In the United States, high interest rates have caused a significant drop in consumer demand, while California’s NEM 3.0 transition continues to create further uncertainty.”
Kothandaraman said Enphase’s current contract manufacturing operations have a combined capacity of about 10 million units per quarter, but the new cuts will reduce that to 7.25 million units per quarter.
