US clean tech unicorn Palmetto has implemented multiple rounds of layoffs due to the market slowdown. Employees have reported on professional networking platform LinkedIn that various positions, including operations strategy managers, coordinators, and warehouse managers, have been eliminated. The undisclosed number of job cuts took place in September and last week, affecting the company’s nearly 400 employees. Palmetto explained that the layoffs were a response to the national market slowdown in its residential solar and energy storage installations division. The company also stated that it conducted organizational changes in preparation for new innovations and services to be launched in 2024. Palmetto, which aims to combat climate change by expanding residential solar energy in the US, is backed by celebrities such as Arnold Schwarzenegger, Billie Eilish, Drake, and LeBron James. Despite the recent layoffs, Palmetto remains committed to its mission of improving how households power their lives by removing barriers and expanding access to solar energy.
Clean-tech Unicorn Palmetto Implements Layoffs Amid Market Slowdown
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