Maxeon Solar Cuts Up to 15%: Q3 Blowback

• Maxeon Solar Technologies Ltd adjusts global workforce and EBITDA guidance to build a better future. Learn more about the company's restructuring on their November 15 earnings call.

Maxeon Solar Technologies Ltd announced today that they are restructuring their global workforce by approximately 15%. This comes as the company faced headwinds in the third-quarter due to reduced shipments to their largest distributed generation (DG) customer in the US and a demand slowdown in the global DG markets. The adjusted EBITDA guidance for the quarter has also been reduced by USD 30 million. CEO Bill Mulligan noted that they had to act decisively in order to streamline their operations and invest in new technology in order to adjust their mix between the DG and utility-scale markets. Their third-quarter earnings call is planned for November 15.

How Will Maxeon Solar Technologies Restructure and Adjust EBITDA?

• Maxeon Solar Technologies Ltd. (NASDAQ:MAXN) will reduce their global workforce by 15%.
• The company will be streamlining operations and investing in new technology to adjust their mix between the DG and utility-scale markets.
• Maxeon Solar Technologies Ltd. will reduce their EBITDA guidance by USD 30 million.
• The earnings call for the third-quarter is planned for November 15th.
• Maxeon Solar Technologies Ltd. will be focusing on cost-saving measures to reduce overhead expenses.
• The company will be launching new products and services to increase customer value and boost sales.
• The company will be investing in research and development to expand their product offerings and develop innovative solutions for customers.
• Maxeon Solar Technologies Ltd. will be expanding their marketing and advertising campaigns to increase brand awareness.
• The company will be exploring strategic partnerships in order to expand their reach in the global markets.