Enphase Energy to reduce workforce by 160 employees

In a regulatory filing on Friday, Enphase notified employees the company will be reducing headcount and moving certain functions to cost-efficient regions, affecting less than 6% of its workforce or approximately 160 employees. The company estimates that it will incur approximately $4.6M in restructuring and asset impairment charges, of which approximately $4.2M will be expected to be incurred in the first quarter of 2026 and approximately $3.7M will be total cash expenditures. The estimated impact of charges related to the plan is expected to be approximately $3.8M in employee severance and benefits, $0.7M in asset impairment charges and $0.1M related to office closures. The company expects to reduce its non-GAAP operating expenses to be in the range of $70M-$75M a quarter starting from the third quarter of 2026. The actions associated with employee restructuring under the plan are expected to be substantially complete within the first half of 2026, subject to local laws.