Lightspeed Commerce Inc. has announced that 250 positions will be affected by layoffs and the decision not to fill certain vacancies. The Montreal-based software company stated that these actions are part of efforts to streamline operations and free up resources for investing in customer growth and product innovations.
Although spokesperson Stephanie Princivil did not specify which areas of the company would be impacted by the layoffs and vacancy closures, she mentioned that more details will be provided during the upcoming quarterly earnings report.
Over recent years, Lightspeed has implemented multiple workforce reductions as Dax Dasilva, the company’s founder and CEO, resumed his leadership role. Additionally, in a bid to enhance shareholder value, the company underwent a strategic review. However, last year’s review did not result in a privatization deal. Instead, Lightspeed decided to focus on strengthening its North American retail and European hospitality sectors while divesting Upserve, a subsidiary specializing in restaurant management solutions.
