Lightspeed Commerce Inc. has announced that 250 positions will be affected due to workforce reductions and the decision not to fill certain job openings. The Montreal-headquartered software company stated that these layoffs are part of an effort to streamline operations and free up resources for reinvesting in customer expansion 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 in an email that Lightspeed will disclose more details during its upcoming quarterly earnings report.
In recent years, Lightspeed has implemented various staff reductions following the return of Dax Dasilva, the company’s founder and CEO, to the helm. Additionally, the company underwent a strategic review aimed at enhancing shareholder value. While no privatization deal was reached last year, Lightspeed decided to focus on strengthening its North American retail and European hospitality sectors and divesting Upserve, a restaurant management tools business it owned.