Sunnova Energy to cut 55% of workforce; shares fall

Sunnova Energy International

05/06/2025 22:43

** Shares of residential solar firm Sunnova Energy NOVA.N falls ~2% to $0.20 in extended trading

** NOVA says it will cut about 55% of its workforce, or 718 employees, in a bid to shave costs, as the company grapples with a massive debt pile and sluggish demand

** Company did not provide details on the charges it would incur in relation to the layoffs

** As of last close, shares are down 94% YTD

 (Reporting by Katha Kalia in Bengaluru)

 ((Katha.Kalia@thomsonreuters.com))