Sunpower to Close Business Units, Cut About 26% Of Workforce
The US-based company announced plans to wind down its residential solar installation locations and close its direct
PV Magazine International 5:46 am on May 5, 2024
SunPower, a US-based residential solar installation provider, announced plans to close its direct sales unit and wind down some business segments as part of cost-cutting measures. The company currently employs around 8,000 people but will cut about 26%, or 2,000 jobs. SunPower reported a 28% year-over-year revenue decline in December 2023, and its stock is trading at a significant loss over the past year. The company aims to shift its focus towards serving its dealer network and installation partners and investing in new home sales.
- SunPower plans to close business segments and cut about 26% of its workforce
- The company reported a significant revenue decline in December 2023
- Employment numbers have decreased from around 8,000 to approximately 6,000 people
- SunPower will focus on serving its dealer network and installation partners
- The company aims to continue investing in new home sales and honor ongoing warranties
https://www.pv-magazine.com/2024/04/25/sunpower-to-close-business-units-cut-about-26-of-workforce/