Lightspeed Commerce Inc. announced that 250 positions will be affected by layoffs and the decision not to fill certain job vacancies. The Montreal-headquartered software company stated that these actions are part of an effort to streamline operations and create opportunities for reinvestment in customer expansion and product advancements.
Stephanie Princivil, a spokesperson for Lightspeed, declined to specify the specific departments impacted by the job cuts and vacant positions elimination but mentioned that further details will be disclosed during the upcoming quarterly earnings report.
In recent years, Lightspeed has implemented various workforce reductions as Dax Dasilva, the company’s founder and CEO, resumed his leadership role. Additionally, in a bid to enhance shareholder value, Lightspeed underwent a strategic assessment, which concluded without a decision to go private. Instead, the company decided to focus on bolstering its North American retail and European hospitality sectors while divesting Upserve, a subsidiary specializing in restaurant management solutions.