Lightspeed Commerce Inc. has announced that 250 positions will be affected due to layoffs and the decision not to fill certain vacancies. The Montreal-headquartered software company stated that the workforce reductions are part of an effort to streamline operations and create space for reinvestment in customer growth and product advancements.
Company spokesperson Stephanie Princivil declined to specify the exact departments impacted by the layoffs and unfilled positions. However, she mentioned in an email that Lightspeed will provide further details in its upcoming quarterly earnings report. The recent layoffs are part of a series of staffing adjustments made in recent years as Dax Dasilva, the founder and CEO of Lightspeed, resumed his role at the company.
In a bid to enhance shareholder value, Lightspeed also underwent a strategic review, which concluded without a decision to go private last year. Instead, the company chose to focus on strengthening its North American retail and European hospitality sectors while divesting Upserve, a subsidiary that provided restaurant management solutions.