CTech by Calcalist’s Post

Blackstone (#tRump backers) and J.P. Morgan 🏴☠️are shorting #sunpower to 0. Warren Buffet should buy them out. « As recently as January 2021, SunPower’s valuation momentarily reached $10 billion, buoyed by the expansion of its residential solar panels program. But since then, the company’s value has cratered — and this year, its situation became particularly dire. SunPower hasn’t filed its earnings reports since December, when it said in a filing that it was operating at a loss in the prior quarter. In the filing, the company wrote that “substantial doubt” existed about its ability to continue, due to its pileup of debts. In April, SunPower Corporation CEO Tom Werner announced a 1,000-worker layoff and the end of SunPower’s direct sales program and residential installation locations. (It’s unclear whether those layoffs overlap with those announced in last month’s WARN.) And in July, SunPower told its dealers that it would halt installations and shipments of its solar panels altogether, according to CNBC. The news drove the company’s stock price below a dollar, as investors bailed on the storied company. »

🔍 SolarEdge Technologies Implements Job Cuts 🔍 SolarEdge Technologies recently announced that it will cut around 400 jobs, including 200 in Israel, to regain financial stability. This follows a challenging market downturn and excess inventory build-up at the end of 2023 and the start of 2024. With over 4,600 employees before these layoffs, the company had already cut 900 jobs earlier this year. 🚀 Despite these challenges, SolarEdge is pushing forward with its growth strategy, marked by the opening of two new U.S. manufacturing plants in Austin, Texas and Seminole, Florida. Both facilities are crucial for the company, particularly due to the "domestic content" incentives from the Inflation Reduction Act of 2022. However, the road to recovery seems steep with the company's stock price dropping by over 60% this year, and a net loss of $157 million in Q1. 🏭 So, what can we learn from this? Balancing aggressive expansion with market realities is challenging, especially in the renewable energy sector. How can companies better navigate these complexities and ensure sustainable growth? Share your thoughts in the comments below!👇 #RenewableEnergy #JobCuts #SolarEdge #SustainableGrowth

Navigating Tough Times: SolarEdge Layoffs Amid Solar Challenges SolarEdge Technologies is cutting 400 jobs, including 200 in Israel, to restore profitability and ensure financial stability. These reductions will affect all departments and involve cuts in both staff and discretionary spending. At the end of 2023, SolarEdge had 5,633 employees. The company attributes the layoffs to a market downturn at the close of 2023 and early 2024, which led to excess inventory and a decline in the solar industry, particularly in Europe. This mirrors broader trends in the solar market, where many companies are facing similar challenges due to fluctuating demand and oversupply issues. In January, SolarEdge announced it would reduce its global workforce by around 16% to lower operating costs. The company has been grappling with financial challenges, reporting a net loss of $157 million in the first quarter, marking its third consecutive quarterly loss. These strategic measures aim to help SolarEdge navigate tough market conditions and position the company for future growth in the renewable energy sector - if anyone's been affected by this do not hesitate to reach out! #SolarEnergy #RenewableEnergy #Layoffs #FinancialStability #SolarEdge #IndustryNews #SolarMarket #CleanEnergy

"If you know where you've been, you can project where you're going." My seasons of "Yes" have gifted me a lifetime of careers in a relatively short span. Was it challenging? Did I work long hours? Absolutely. But the fulfillment and rewards have been immeasurable. From designing electrical distribution systems to launching business units within a Fortune 500, my journey has been diverse and exhilarating. I've helped bring the 3rd gas pipeline to Florida, led integrations for multibillion-dollar acquisitions, and spearheaded quality improvements that saved millions. As a transformational leader, large scale solar developer, and a digital transformation and cybersecurity manager, I've embraced every opportunity for growth. I can trace an atom from the wellhead to the metercan and understand everything in between. This journey has shaped me, and I'm grateful for every step. The recipe for success? Vision, hard work, resilience, determination, and heart. Embrace your path, say "Yes" to opportunities, and watch your career unfold in ways you never imagined. #CareerReflection #Gratitude #ProfessionalGrowth

CLIMATE TECH WILL REMAIN A HOT JOB MARKET IN 2024 The climate tech sector has experienced 10% job growth in the past two years, outpacing the economy. Jobs in clean energy, such as wind turbine technicians and solar photovoltaic installers, are expected to continue growing through 2032. However, there is a skills gap in the industry, with some positions requiring specific knowledge in climate or energy. Despite layoffs in the tech sector in 2023, climate tech remains a hot job market in 2024. https://lnkd.in/dnMdG2SF

Siemens Gamesa, a Spanish company belonging to Siemens Energy - the German giant operating in the renewable energy market, is in big trouble. 🤔 hmm seems the degree to which the world depends on oil and gas is not so well understood after all! The situation is so serious that it plans mass layoffs, Reuters reported, which may affect up to 4,100 employees. Many companies from Germany have made similar decisions since the beginning of the year. The possible layoffs were announced to the employees by the company's CEO in an internal letter, which Reuters obtained. Businesses across Europe are facing problems, announcing restructurings and sharp cuts. When it comes to German companies, the list is long. Since the beginning of 2024, decisions about layoffs have been announced by, among others, Bosch, Continental (tyre manufacturer), ZF (automotive parts manufacturer), Deutsche Bank, SAP (software provider), Vodafone (mobile operator), Bayer (pharmaceutical and chemical giant), Evonik (chemical company), and Thyssenkrupp Steel (steel manufacturer).

Good news for those who have been affected by layoffs and project halts in the energy sector! As a fellow adventurer on the rollercoaster of life, I want to share my personal approach and tale of triumph amidst the turbulent seas of change. I encourage each of you to embrace the chaos, dance with uncertainty, and to always use the example to "PIVOT" like a twister! 🌀 In the realm of the energy sector, companies are shifting and reorganizing faster than you can say "renewable resources," but as a gentle reminder to all of you, that every setback is just a setup for a comeback, and every obstacle is an opportunity in disguise. So, to all my fellow phoenixes out there, remember this: when life throws you into the fire, don't be afraid to spread your wings and soar. You've got the strength, the smarts, and the spirit to rise higher than ever before. 💪 Here's to embracing change, conquering challenges, and emerging stronger, wiser, and more unstoppable than ever! ✨ #renewables #waterinfrastructure #womeninenergy #pivot #diversity #future #energy #hiring Truly, CC

Energy Markets: Layoffs hit Charlotte-based Duke Energy 🌟📝 📝 Highlights: Layoffs are hitting Charlotte-based Duke Energy, the company confirmed to Channel 9. 🔗 Read more: https://lnkd.in/e9EsNpxA 🌐 Visit: www.energycompact.com 🔍 Join the Energy Compact: https://lnkd.in/eHY7D3jT #Comment and share your views. 🗨️ #energy #markets #newsletter