SolarEdge announces restructuring to cut ~400 jobs; sees $3-5M charges and $9-11M quarterly savings

SOLAREDGE TECHNOLOGIES, INC.

Headcount reduction of approx. 400 employees globally across all departments and regions.
Pre-tax charges of $3-5M (mostly cash) for severance and termination benefits, majority in Q1 FY2025.
Anticipates quarterly expense reduction of $9-11M once reductions are completed.
Signed safe harbor agreements with Sunrun (RUN) and a top US residential solar financier for US-made products.
Closed second sale of §45X tax credits in late December to improve cash position and balance sheet.

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