Lightspeed Commerce Inc. has announced that 250 positions will be affected by layoffs and the decision not to fill certain job openings. The Montreal-headquartered software company stated that these workforce reductions are part of efforts to streamline operations and make space for investments in customer growth and product advancements.
Company spokesperson Stephanie Princivil declined to specify the targeted areas for the job cuts and vacant position eliminations but mentioned that further details would be disclosed during the upcoming quarterly earnings report.
Lightspeed has implemented multiple staff reductions in recent years following the return of Dax Dasilva, the company’s founder and CEO, to the helm. Additionally, the company aimed to enhance shareholder value through a strategic review process, which concluded without a privatization deal last year.
Instead, Lightspeed decided to focus on strengthening its North American retail and European hospitality divisions while divesting Upserve, a subsidiary specializing in restaurant management solutions.