Lightspeed Commerce Inc. has announced that approximately 250 positions will be affected by layoffs and the decision not to fill certain open roles. The Montreal-headquartered software company stated that these workforce reductions aim to streamline its operations and free up resources for enhancing customer growth and product advancements.
Stephanie Princivil, a spokesperson for Lightspeed, refrained from specifying which departments within the company would be impacted by the layoffs and vacant position eliminations. However, she mentioned that further details will be disclosed when the company releases its quarterly financial results next month.
In recent years, Lightspeed has implemented multiple staff cuts following the return of Dax Dasilva, the company’s founder and CEO, to his leadership role. Additionally, in a bid to boost shareholder value, Lightspeed conducted a strategic review that concluded without a decision to go private. Instead, the company chose to focus on strengthening its North American retail and European hospitality divisions while divesting Upserve, a subsidiary offering restaurant management solutions.