Lightspeed Commerce Inc. has announced that 250 positions will be affected as the company undergoes staff layoffs and chooses not to fill certain job openings. The Montreal-headquartered software firm stated that the workforce reductions are part of an effort to streamline operations and make way for reinvestment in customer acquisition and product advancements.
Stephanie Princivil, a company spokesperson, declined to specify the specific departments impacted by the layoffs and unfilled positions but mentioned that further details will be disclosed during the upcoming quarterly earnings report. Lightspeed has implemented multiple workforce reductions in recent years following the return of Dax Dasilva, the company’s founder and CEO, to the helm.
In a bid to enhance shareholder value, the company conducted a strategic assessment that concluded last year without a decision to go private. Instead, Lightspeed decided to focus on expanding its North American retail and European hospitality sectors while divesting Upserve, a subsidiary offering restaurant management solutions.
