SolarEdge rises on workforce reduction plan, safe harbor agreements
** Shares of solar inverter maker SolarEdge Technologies
SEDG
rise 18.8% to $18.15
** Company to reduce headcount by about 400 employees globally
** SEDG expects the layoffs will lead to a quarterly reduction in expenses of about $9 mln to $11 mln
** Company had previously announced workforce reduction plans in January, July and November of 2024
** Company also announces safe harbor agreements with Sunrun
RUN
and a U.S.-based residential solar installations financier
** It expects deliveries under the safe harbor agreements to take place throughout 2025
** Including the session's moves, the stock is up 33.9%