Lightspeed Commerce Inc. has announced that 250 positions will be affected by layoffs and the decision not to fill certain vacant roles. The Montreal-headquartered software company stated that these workforce reductions are part of an effort to streamline operations and free up resources for customer growth initiatives and product advancements.
Stephanie Princivil, a spokesperson for Lightspeed, refrained from specifying the departments impacted by the layoffs and vacant position eliminations. However, Princivil mentioned that the company will provide more details during its upcoming quarterly earnings report.
In recent years, Lightspeed has implemented multiple workforce reduction measures following Dax Dasilva’s return to the role of founder and chief executive.
To enhance shareholder value, Lightspeed underwent a strategic review, which concluded without a decision to go private. Instead, the company decided to focus on strengthening its North American retail and European hospitality divisions while divesting Upserve, a subsidiary offering restaurant management solutions.
