Enphase Energy to Cut Jobs as End of Tax Credits Dents Demand

Enphase Energy ENPH -2.52%decrease; red down pointing triangle plans to cut about 6% of its workforce as part of a broader restructuring after the expiration of a federal tax credit sapped demand for residential solar panels.

The solar energy company said Friday that it is also simplifying parts of its organization, tightening spending and prioritizing investments going forward.