Lightspeed Commerce Inc. has announced that 250 positions will be affected as the company undergoes layoffs and chooses not to fill certain job openings. The Montreal-based software firm indicates that these workforce reductions are part of an effort to streamline operations and make way for reinvesting in customer acquisition and product advancements.
Stephanie Princivil, a spokesperson for Lightspeed, refrained from specifying the specific departments or roles being impacted by the layoffs and job vacancies elimination. However, Princivil mentioned in an email that further details will be provided during the upcoming quarterly earnings report.
In recent years, Lightspeed has implemented various staff reductions following the return of Dax Dasilva, the company’s founder and CEO, to his leadership role. Additionally, in a bid to enhance shareholder value, Lightspeed underwent a strategic review that concluded without a decision to go private.
Instead of pursuing a privatization move, the company decided to focus on strengthening its North American retail and European hospitality sectors. Furthermore, Lightspeed divested Upserve, a subsidiary offering restaurant management solutions, to concentrate on its core business areas.