Lightspeed Commerce Inc. has announced that 250 positions will be affected as the company undertakes layoffs and chooses not to fill certain job openings. The Montreal-headquartered software firm stated that the workforce reduction is intended to streamline its operations and free up resources to invest in customer expansion and product advancements.
Stephanie Princivil, a spokesperson for Lightspeed, declined to specify which departments within the company are being impacted by the layoffs and vacancy eliminations. However, Princivil mentioned in an email that further details will be shared when the company discloses its quarterly financial results next month.
Over the past few years, Lightspeed has implemented multiple workforce reductions as Dax Dasilva, the founder and CEO, resumed his leadership role within the company. In a bid to enhance shareholder value, Lightspeed conducted a strategic review, which was concluded last year without pursuing a privatization deal. Instead, the company decided to focus on strengthening its North American retail and European hospitality segments while divesting Upserve, a subsidiary that provided restaurant management solutions.