Fremont-based Enphase Energy, known for its solar technology and EV chargers, is cutting about 500 jobs, continuing a tough year for the Bay Area’s solar and battery sectors, which have seen major layoffs and even full shutdowns in 2024.
In a recent SEC filing, Enphase disclosed that the layoffs will impact 17% of its global workforce, including contractors. This announcement follows a 10% workforce reduction less than a year ago, with the company citing regulatory hurdles and a dip in solar demand due to high interest rates.
In a memo to employees, CEO Badri Kothandaraman explained that the layoffs are necessary to “manage the continued economic challenges in the solar industry.”