Lightspeed Commerce Inc. has announced that 250 positions will be affected by layoffs and the decision not to fill certain job openings. The Montreal-based software company stated that these actions are part of an effort to streamline operations and create opportunities for reinvestment in customer acquisition and product advancements.
Stephanie Princivil, a spokesperson for Lightspeed, declined to specify the specific areas within the company being impacted by the layoffs and vacant position eliminations. However, she mentioned that further details will be shared when the company discloses its quarterly financial results next month.
In recent years, Lightspeed has implemented multiple rounds of workforce reductions as Dax Dasilva, the company’s founder and CEO, resumed leadership.
In a bid to enhance shareholder value, Lightspeed underwent a strategic assessment that concluded without a decision to go private. Instead, the company chose to focus on strengthening its North American retail and European hospitality sectors while divesting Upserve, a subsidiary specializing in restaurant management solutions.