---
schema_version: "secwatch.filing_event.v1"
accession: "0000867773-24-000003"
form_type: "8-K"
ticker: null
cik: "0000867773"
company_name: "SUNPOWER CORP"
filed_at: "2024-01-16T23:59:59+00:00"
generated_at: "2026-06-06T23:42:00.390805+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# SunPower adopts restructuring plan, expects $12.8M in charges due to slower sales

## Summary
- Restructuring charges of ~$12.8M: $8.2M severance benefits and ~$4.7M write-down of right-of-use assets.
- Plan driven by slower sales from higher interest rates; execution targeted by end of Q3 FY2024.
- Substantial portion of restructuring charges expected to be incurred in Q1 FY2024.

## SEC filing metadata
- accession: 0000867773-24-000003
- form_type: 8-K
- cik: 0000867773
- company_name: SUNPOWER CORP
- filed_at: 2024-01-16T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.05
- EDGAR index: https://www.sec.gov/Archives/edgar/data/867773/000086777324000003/0000867773-24-000003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/867773/000086777324000003/spwr-20240112.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000867773-24-000003
- JSON: https://secwatch.observer/filing/0000867773-24-000003.json
- Plain text: https://secwatch.observer/filing/0000867773-24-000003.txt

## Key facts
- Restructurings & Charges
  SUNPOWER CORP announced a restructuring with charges of approximately $12.8 million.
  - Type: restructuring
  - Charge: approximately $12.8 million
  source text: in part, by higher interest rates. The plan is intended to improve the economics of the business. The Company expects to incur restructuring charges totaling approximately $12.8 million, consisting of approximately $8.2 million in severance benefits, and expects to write down approximately $4.7 million in right of use assets. The Company plans to execute the
  evidence_url: https://www.sec.gov/Archives/edgar/data/867773/000086777324000003/0000867773-24-000003-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.