$SolarEdge(SEDG)$
Green energy company SolarEdge Technologies (SEDG) plans to cut 16% of its workforce in a cost-saving strategy aimed at its operating expenses. SolarEdge's stock has risen by 4% in Monday's pre-market trading session.
From the floor of the New York Stock Exchange, Yahoo Finance's Madison Mills reports on the sentiment riding over the renewable energy sector while adding SolarEdge to the list of companies implementing layoffs in 2024.
By trimming the workforce, the company expects to slim down operating costs and increase profits for mid to long term business expansion.
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