Lightspeed Commerce Inc. has announced that 250 positions will be affected by layoffs and the decision not to fill certain job vacancies. The Montreal-based software company stated that these workforce reductions aim to streamline operations and create space for reinvestment in customer acquisition and product advancements.
Company spokesperson Stephanie Princivil declined to specify the exact departments impacted by the layoffs and unfilled vacancies but mentioned that Lightspeed will provide further details during its upcoming quarterly earnings report. Lightspeed has undergone multiple workforce reductions in recent years as Dax Dasilva, the company’s founder and CEO, resumed his leadership role.
In a bid to enhance shareholder value, the company underwent a strategic review that concluded last year without a privatization deal. Instead, Lightspeed chose to focus on bolstering its North American retail and European hospitality segments while divesting Upserve, a subsidiary offering restaurant management solutions.