Lightspeed Commerce Inc. has announced that 250 positions will be affected by staff layoffs and the decision not to fill certain job openings. The Montreal-headquartered software company stated that the workforce reductions are intended to streamline operations and make way for investments in customer expansion and product advancements.
Stephanie Princivil, a spokesperson for the company, refrained from specifying which departments are being targeted for the job cuts and vacancies elimination. However, she mentioned that Lightspeed will disclose further details during its upcoming quarterly earnings report.
Recent years have seen Lightspeed implement multiple workforce reductions following Dax Dasilva’s return to the role of founder and CEO. In a bid to enhance shareholder value, the company underwent a strategic evaluation, which concluded without a privatization deal last year.
Instead of going private, Lightspeed chose to reinforce its North American retail and European hospitality sectors while divesting Upserve, a subsidiary specializing in restaurant management solutions.