Lightspeed Commerce Inc. has announced that 250 positions will be affected due to layoffs and the decision not to fill certain job vacancies. The Montreal-based software company stated that these workforce reductions 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 particular departments or roles affected by the layoffs and unfilled vacancies. However, she mentioned that further details will be provided when the company releases its quarterly financial results in the upcoming month.
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 position.
As part of its strategy to enhance shareholder value, Lightspeed underwent a strategic evaluation which concluded without a decision to go private. Instead, the company has chosen to focus on strengthening its North American retail and European hospitality divisions while divesting Upserve, a subsidiary specializing in restaurant management solutions.
