Lightspeed Commerce Inc. has announced that 250 positions will be affected as the company implements layoffs and decides not to fill certain job openings. The Montreal-headquartered software firm states that the workforce reductions are aimed at streamlining its operations to enable reinvestment in customer expansion and product advancements.
Stephanie Princivil, a company spokesperson, refrained from specifying the exact departments impacted by the staff cuts and vacant position eliminations. However, she mentioned in an email that Lightspeed intends to disclose more details during its upcoming quarterly earnings report.
Under the leadership of Dax Dasilva, the company’s founder and CEO, Lightspeed has undergone multiple rounds of workforce reductions in recent years. In a bid to enhance shareholder value, the company conducted a strategic review, which concluded without a decision to go private. Instead, Lightspeed chose to concentrate on strengthening its North American retail and European hospitality segments while divesting Upserve, a subsidiary specializing in restaurant management solutions.