Lightspeed Commerce Inc. has announced that approximately 250 positions will be affected by layoffs and a decision not to fill certain job openings. The Montreal-headquartered software company stated that these actions are intended to streamline its operations and make way for investments in customer growth and product advancements.
When asked about the specific areas affected by the layoffs and unfilled vacancies, company spokesperson Stephanie Princivil declined to provide details but mentioned that Lightspeed will disclose more information during its upcoming quarterly earnings report. Lightspeed has undergone multiple rounds of workforce reductions in recent years following the return of Dax Dasilva, the company’s founder and CEO, to his leadership role.
In a bid to enhance shareholder value, Lightspeed conducted a strategic evaluation, which concluded last year without a decision to go private. Instead, the company decided to focus on strengthening its North American retail and European hospitality divisions while divesting Upserve, a subsidiary offering restaurant management solutions.