Lightspeed Commerce Inc. has announced that 250 positions will be affected due to layoffs and the decision not to fill certain job openings. The Montreal-based software company stated that these actions are aimed at streamlining operations and creating opportunities to invest in customer growth and product advancements.
Stephanie Princivil, a spokesperson for Lightspeed, declined to specify the specific areas within the company that will be impacted by the layoffs and elimination of vacancies. However, she mentioned in an email that further details will be provided during the upcoming quarterly earnings report.
In recent years, Lightspeed has implemented various staff reductions as Dax Dasilva, the company’s founder and CEO, resumed his leadership role. Additionally, in a bid to enhance shareholder value, the company underwent a strategic review last year, ultimately deciding against a privatization deal. Instead, Lightspeed chose to focus on strengthening its North American retail and European hospitality sectors while divesting Upserve, a subsidiary offering restaurant management solutions.