Lightspeed Commerce Inc. has announced that 250 positions will be affected by layoffs and the decision not to fill certain job openings. The Montreal-based software company stated that the layoffs are part of an effort to streamline operations and free up resources for reinvestment in customer growth and product advancements.
Stephanie Princivil, a spokesperson for the company, declined to specify the specific areas within the company that the layoffs and elimination of vacancies would impact. However, she mentioned that Lightspeed will provide more details during the upcoming quarterly earnings report.
Lightspeed has implemented multiple workforce reductions in recent years as Dax Dasilva, the company’s founder and CEO, resumed his leadership role. Additionally, to enhance shareholder value, the company undertook a strategic review, which concluded without a decision to go private. Instead, Lightspeed chose to focus on expanding its North American retail and European hospitality divisions while divesting Upserve, a restaurant management tools business it previously owned.