Maxeon Solar Technologies Ltd. will cut about 15% of its global workforce, citing a slowdown in demand for rooftop panels and challenges collecting payments from a top customer.
Most of the staff cuts will take place by the end of the year, the Singapore-based solar manufacturer said in a statement Tuesday. Maxeon also reduced its third-quarter guidance for shipments and revenue amid what Chief Executive Officer Bill Mulligan called “rapidly changing market and industry conditions.”
