Lightspeed Commerce Inc. has announced that around 250 positions will be affected by layoffs and the decision not to fill certain job openings. The Montreal-headquartered software company stated that these actions are aimed at streamlining its operations to make way for investments in customer growth and product advancements.
Stephanie Princivil, a spokesperson for the company, refrained from specifying the exact departments impacted by the layoffs and unfilled vacancies. However, she mentioned that Lightspeed will disclose more details during the upcoming quarterly earnings report.
In recent years, Lightspeed has implemented multiple staff reductions as Dax Dasilva, the founder and CEO of Lightspeed, resumed his leadership position. Additionally, the company underwent a strategic review last year, focusing on increasing shareholder value. Despite considering going private, Lightspeed decided against it and chose to concentrate on expanding its North American retail and European hospitality sectors while divesting Upserve, a subsidiary specializing in restaurant management solutions.
