03/29/2024

SunPower to cut 2,500 jobs amid struggles in the solar industry

 A San Jose solar company announced plans Wednesday to cut 2,500 jobs, including about 200 in California, as part of an effort to restructure operations and reduce expenses.

Most of SunPower Corp.’s layoffs, which represent 25% of its workforce, are expected to come from its operations in the Philippines, the company said.  

SunPower Chief Executive Tom Werner said that “given the current market dislocation, we have made the strategic decision to implement a broad restructuring program to position the company for sustained, long term profitability.”

“We believe that our restructuring initiatives will enable us to successfully navigate through the current market transition and maximize cash flow while successfully positioning the company for the next phase of industry growth,” said Werner, who has led SunPower since 2003 and oversaw the company’s growth from 35 employees to 8,000.

View Article