Lightspeed Commerce Inc. has announced that it will be affecting 250 positions through staff layoffs and not filling certain job openings. The software company, headquartered in Montreal, stated that these measures are aimed at streamlining its operations to enable reinvestment in customer growth and product advancements.
Stephanie Princivil, a spokesperson for the company, declined to specify the exact departments or roles being targeted by the layoffs and vacancy eliminations but mentioned that Lightspeed will provide further details during its upcoming quarterly earnings report.
Over the past few years, Lightspeed has implemented multiple workforce reductions as Dax Dasilva, the founder and CEO, resumed his leadership role within the organization.
In an effort to enhance shareholder value, the company underwent a strategic review, which concluded without a decision to go private last year. Instead, Lightspeed decided to focus on strengthening its North American retail and European hospitality sectors while divesting Upserve, a subsidiary specializing in restaurant management tools.