Lightspeed Commerce Inc. has announced that 250 positions will be affected by a recent round of layoffs and a decision not to fill certain job vacancies. The Montreal-headquartered software company explained that these actions are part of an effort to streamline operations and make way for investments in customer expansion and product advancements.
Stephanie Princivil, a company spokesperson, declined to specify which departments the job cuts and elimination of vacancies were concentrated on. However, she mentioned that Lightspeed will provide more details during the upcoming quarterly earnings report.
Under the leadership of Dax Dasilva, the founder and CEO who resumed his role, Lightspeed has implemented multiple workforce reductions in recent years. In a bid to enhance shareholder value, the company underwent a strategic review that concluded without a decision to go private. Instead, Lightspeed focused on reinforcing its North American retail and European hospitality sectors while divesting Upserve, a subsidiary offering restaurant management solutions.