SunPower to Cut Almost One-Third of Workforce [BNN Bloomberg (Canada)]
SunPower Corporation (SPWR)
Last sunpower corporation earnings: 2/12 04:05 pm
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Source: BNN Bloomberg
SunPower will cut about 1,000 out of a total of about 3,100 employees, according to a spokesperson. The company plans to shutter its residential installation locations and close its direct sales unit as it pivots to a “low-fixed-cost model,” SunPower's Principle Executive Officer Tom Werner said in a note to employees posted on the company's website Wednesday. The company expects to incur restructuring charges of about $28 million, according to a filing. Shares rose as much as 6.6%. The announcement comes a day after SunPower said it needs to restate almost two years of financial results, part of a string of difficult news for the solar-industry pioneer. The company replaced its top executive earlier this year and defaulted on a credit agreement in late 2023 after an earlier earnings revision that delayed results. SunPower had to raise $200 million to ease a cash crunch. It announced a prior restructuring plan in January. The rooftop solar industry has been struggling as high i
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News
- SunPower Stock Has 87% Upside, According to 1 Wall Street Analyst [Yahoo! Finance]Yahoo! Finance
- SunPower Stock Is Down 55% This Year. Is It a Buy? [Yahoo! Finance]Yahoo! Finance
- SunPower Co. (NASDAQ: SPWR) had its price target lowered by analysts at Scotiabank from $6.00 to $4.00. They now have a "sector perform" rating on the stock.MarketBeat
- Enphase Energy and SunPower: Solar stocks sliding [Yahoo! Finance]Yahoo! Finance
- It's a cloudy day for SunPower. [Verge, The]Verge, The
SPWR
Earnings
- 2/15/24 - Miss
SPWR
Sec Filings
- 5/3/24 - Form 4
- 5/3/24 - Form 4
- 4/24/24 - Form 8-K
- SPWR's page on the SEC website