Lightspeed Commerce Inc. has announced that it will be affecting 250 positions through staff layoffs and the decision not to fill certain job vacancies. The Montreal-headquartered software company stated that these workforce reductions are part of an effort to streamline operations and free up resources for investing in customer expansion and product advancements.
Stephanie Princivil, a company spokesperson, refrained from specifying the exact areas within the organization that will be impacted by the layoffs and elimination of vacancies. However, she mentioned in an email that Lightspeed will offer more details during the upcoming quarterly earnings report.
In recent years, Lightspeed has implemented multiple rounds of workforce reductions as its founder and CEO, Dax Dasilva, resumed leadership of the company. Additionally, in a bid to enhance shareholder value, the company underwent a strategic review, which concluded without a decision to go private. Instead, Lightspeed chose to focus on strengthening its North American retail and European hospitality sectors while divesting Upserve, a subsidiary specializing in restaurant management solutions.
