Lightspeed Commerce Inc. has announced that 250 positions will be affected due to a combination of layoffs and leaving some job vacancies unfilled. The Montreal-based software company explained that these actions are part of a strategy to streamline operations, allowing for reinvestment in customer growth and product advancements.
Stephanie Princivil, a spokesperson for Lightspeed, declined to specify which departments within the company are being impacted by the layoffs and vacant position eliminations. However, she mentioned that more details will be disclosed during the upcoming quarterly earnings report.
In recent years, Lightspeed has implemented multiple rounds of workforce reductions following the return of Dax Dasilva, the company’s founder and CEO, to his leadership role. Additionally, in a bid to enhance shareholder value, Lightspeed conducted a strategic review that concluded without a decision to go private. Instead, the company chose to focus on strengthening its North American retail and European hospitality segments while divesting Upserve, a subsidiary offering restaurant management solutions.
