Overview: Otovo’s major restructuring and job cuts
Norway-based solar company Otovo announced a significant workforce restructuring in a stock market notice, stating it will reduce its headcount by 88 employees. The move brings the total staff from 213 down to 125 as the company pivots its business model and cost structure. The restructuring is part of a broader strategy to streamline operations and focus on core strengths in the evolving rooftop solar and battery market.
Details of the job cuts and affected leadership
Among those slated to depart are several senior executives: Chief Financial Officer Petter Ulset, Revenue Director Fabio Stefanini, and Marketing Director Sasha Berson. The announced reductions underscore Otovo’s intent to recalibrate leadership and operations in line with its new direction.
Financial implications of the restructuring
Management projects substantial financial benefits from the staff reductions, with expected savings of around NOK 80 million. In addition, the company anticipates annual cost savings of approximately NOK 30–40 million as the plan progresses. These figures reflect a broader aim to enhance efficiency and align costs with the redesigned organizational setup.
Strategic shift: outsourcing solar installation and sales
Central to the restructuring is a move away from the company handling its own sales and installation services. Otovo will increasingly rely on external partners to perform installation and related services, allowing the business to leverage outside expertise and scale more flexibly. The company says it will transition to a new operating model and organizational structure under its updated strategy.
Leasing, care services and the new distribution model
In explaining the strategic shift, Otovo’s leadership highlighted a move toward offering Otovo Leasing and Otovo Care through local electricians, rather than exclusively through Otovo’s own channels. CEO Andreas Thorsheim emphasized broader accessibility, likening it to the ubiquity of iPhone availability: “Why shouldn’t homeowners be able to get Otovo LEASING and Otovo CARE through their local electrician?” He notes that, just as consumers can buy an iPhone at many retailers rather than solely in flagship stores, Otovo aims to extend its services via local partners.
Background on Otovo and leadership
Otovo was founded by Andreas Thorsheim, who remains at the helm as chief executive officer. Prior to these organizational changes, Otovo marketed and sold solar solutions primarily through its own channels, a model that is being phased out as part of the new strategy. The move signals a broader effort to adapt to a changing market where partnerships and flexible delivery models can accelerate growth and customer reach.
What this means for customers and the market
For homeowners and businesses, the shift could mean easier access to Otovo’s solar financing and support services through local electricians, expanding the company’s geographical and channel reach. The changes also reflect a broader industry trend toward outsourcing specialized installation work to partner networks, enabling solar firms to scale more efficiently while focusing on product development and customer experience.
Conclusion
Otovo’s announcement marks a pivotal moment for a company that has grown by leaning on its own channels. By reducing headcount, cutting costs, and adopting a more partner-oriented sales and installation model, Otovo aims to maintain momentum in a competitive solar market while continuing to offer robust options for customers through leasing and care programs via local professionals.
