Lightspeed Commerce Inc. has announced that around 250 positions will be affected by layoffs and the decision to not fill certain job openings. The Montreal-headquartered software company stated that these actions aim to streamline its operations and free up resources to invest in customer expansion and product advancements.
Stephanie Princivil, a spokesperson for Lightspeed, declined to specify which departments within the company are being targeted for the job cuts and vacancies removal. However, she mentioned in an email that more details will be provided during the upcoming quarterly earnings report.
In recent years, Lightspeed has implemented multiple rounds of workforce reductions as Dax Dasilva, the company’s founder and CEO, resumed his leadership role. Additionally, to enhance shareholder value, the company underwent a strategic assessment. Although no privatization deal was pursued, Lightspeed decided to concentrate on strengthening its North American retail and European hospitality sectors while divesting Upserve, a subsidiary offering restaurant management solutions.
