Asia Tech Wire (July 16) -- Israeli solar power technology company SolarEdge Technologies Inc. said Monday that it will lay off 400 employees, 200 of them in Israel, in an effort to restore profitability and ensure financial stability.

In a letter to employees, SolarEdge said the layoffs will take place across all divisions, including reductions in headcount and discretionary spending.

The company had 5,633 employees as of Dec. 31, 2023, according to its latest regulatory filing.