Lightspeed Commerce Inc. has announced that it will be affecting 250 positions through layoffs and not filling certain job openings. The Montreal-headquartered software company explained that these actions are part of an effort to streamline operations and free up resources for investing in customer expansion and product advancements.
Stephanie Princivil, a company spokesperson, declined to specify the exact departments or roles being targeted by the layoffs and vacancies elimination. However, she mentioned that Lightspeed will share more details during its upcoming quarterly earnings announcement.
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.
In a bid to enhance shareholder value, Lightspeed conducted a strategic evaluation, which concluded without a decision to go private last year. 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.