In a December 18 Securities and Trade Fee submitting, Enphase disclosed it’s lowering its world workforce by about 10% and halting contract manufacturing at factories in Wisconsin and Romania.
In a message to staff, CEO Badri Kothandaraman mentioned, “During the last 12 months, the photo voltaic market has seen a variety of turbulence worldwide. In america, excessive rates of interest have brought about a major drop in shopper demand, whereas California’s NEM 3.0 transition continues to create additional uncertainty.”
Kothandaraman mentioned Enphase’s present contract manufacturing operations have a mixed capability of about 10 million items per quarter, however the brand new cuts will scale back that to 7.25 million items per quarter.
