Enphase Energy to Cut About 6% of Workforce

Dow Jones01-24 05:42

By Kelly Cloonan

Enphase Energy plans to cut about 6% of its workforce as part of a broader effort to trim costs.

The layoffs will affect about 160 employees, the solar energy company disclosed in a Friday filing with the Securities and Exchange Commission. The company had about 2,781 full-time employees as of its latest annual filing.

Enphase also plans to cut costs by relying on distributors to cover sales in certain smaller markets, prioritizing research and development in its core products and software, and boosting productivity with artificial intelligence and automation.

The company projects it will incur about $4.6 million in restructuring and asset impairment charges, including about $4.2 million in the first quarter. About $3.7 million will be total cash expenditures.

Actions related to the restructuring plan are expected to be substantially completed in the first half of this year.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

January 23, 2026 16:42 ET (21:42 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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