EnergyUS

Enphase Energy Layoffs

December 2023

Enphase Energy announced a layoff affecting 350 employees (10% of its workforce) in December 2023. The company operates in the Energy sector.

People Affected

350

Percentage

10%

Announced Date

Dec 18, 2023

About

Enphase Energy, a solar technology company, announced on December 18, 2023, a workforce reduction impacting approximately 350 contractors and employees, representing about 10% of its global workforce. This layoff is part of a broader restructuring to streamline operations amid a challenging macroeconomic environment for the solar industry. The company cited high interest rates reducing consumer demand in the U.S., market uncertainty from policy changes like California's NEM 3.0, and a slowdown in European demand leading to high inventory. To become leaner and more efficient, Enphase will also cease contract manufacturing in Timisoara, Romania, and Wisconsin, U.S., resize other sites, and extend hiring and travel freezes into 2024, aiming to reduce quarterly operating expenses.