Lightspeed Commerce Inc. has announced that 250 positions will be affected by layoffs and the decision not to fill certain job openings. The Montreal-based software company stated that these workforce reductions aim to streamline operations and free up resources to invest in customer expansion and product advancements.
Stephanie Princivil, a spokesperson for Lightspeed, declined to specify the exact departments impacted by the layoffs and unfilled vacancies but mentioned that further details will be disclosed when the company releases its quarterly financial results next month.
In recent years, Lightspeed has implemented multiple rounds of workforce reductions following the return of Dax Dasilva, the company’s founder and CEO, to his leadership position.
As part of efforts to enhance shareholder value, Lightspeed underwent a strategic review that concluded without a decision to go private last year. Instead, the company chose to focus on strengthening its North American retail and European hospitality divisions while divesting Upserve, a subsidiary specializing in restaurant management solutions.