Lightspeed Commerce Inc. has announced that 250 positions will be affected as the company implements layoffs and chooses not to fill certain job openings. The Montreal-headquartered software firm states that the layoffs are part of efforts to streamline its operations and free up resources for reinvesting in customer acquisition and product development.
Stephanie Princivil, a company spokesperson, declined to specify which departments are being impacted by the job cuts and unfilled positions. However, she mentioned that Lightspeed will provide further details when it discloses its quarterly financial results next month.
Lightspeed has undergone multiple rounds of workforce reductions in recent years following the return of Dax Dasilva, the company’s founder and CEO, to his leadership role. In a bid to enhance shareholder value, the company conducted a strategic assessment that concluded without a decision to go private last year.
Instead, Lightspeed decided to focus on strengthening its North American retail and European hospitality segments while divesting Upserve, a subsidiary specializing in restaurant management solutions.
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