Lightspeed Commerce Inc. has announced that 250 positions will be affected by layoffs and the decision to leave some job openings unfilled. The Montreal-headquartered software company stated that the layoffs are part of an effort to streamline operations and free up resources for enhancing customer growth and product advancements.
Stephanie Princivil, a spokesperson for the company, declined to specify the areas within the organization that would be impacted by the job cuts and vacancy closures. However, she mentioned that Lightspeed will provide more details during the upcoming quarterly earnings report.
In recent years, Lightspeed has implemented various workforce reductions following the return of Dax Dasilva, the company’s founder and CEO, to his leadership role.
As part of its strategy to increase shareholder value, Lightspeed underwent 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 that provided restaurant management solutions.
