Solar manufacturer Maxeon Solar Technologies will lay off about 22% of its global workforce as it decided to phase out its Maxeon 6 interdigitated back contact (IBC) modules as well as other operational realignment.
Maxeon CFO Kai Strohbecke said the company’s non-GAAP gross loss is expected to be in the range of US$5 million – US$15 million in the fourth quarter in 2023, including certain idle charges and excess costs related to its IBC capacity pivot potential liquidated damages, because of delivery delays in its utility-scale business as well as the risk of further inventory write-downs.
The company’s operating expenses are expected to be US$113 million, including restructuring expenses totalling approximately US$70 million for the write-down and accelerated depreciation of certain Maxeon 6 manufacturing assets, charges for Maxeon 7 related purchase orders cancelled at the beginning of Q4, as well as severance costs for the company’s previously announced reduction of 15% in force.
Moreover, Maxeon said its shipments in Q4 will be between 610MW and 650MW, which could be 2.9% lower to 3.5% higher than the shipments of 628MW in Q3 2023.
(The above content is reproduced from pv-tech，By Simon Yuen）
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