Lightspeed Commerce Inc. has announced that 250 positions will be affected due to workforce reductions and the decision not to fill certain job openings. The Montreal-based software company stated that these actions are aimed at streamlining its operations to enable reinvestment in customer expansion and product advancements.
Stephanie Princivil, a spokesperson for Lightspeed, declined to specify the specific areas within the company that will be impacted by the layoffs and elimination of vacancies. However, she mentioned that further details will be disclosed when Lightspeed reports its quarterly earnings next month.
In recent years, Lightspeed has implemented multiple workforce reductions as Dax Dasilva, the company’s founder and CEO, resumed his leadership role.
In a bid to enhance shareholder value, Lightspeed conducted a strategic review that concluded without a privatization deal last year. Instead, the company decided to focus on strengthening its North American retail and European hospitality sectors while divesting Upserve, a subsidiary that provided restaurant management solutions.