Lightspeed Commerce Inc. has announced that it will be reducing its workforce by 250 positions by laying off employees and choosing not to fill certain open roles. The software company, headquartered in Montreal, explained that these layoffs are part of an effort to streamline operations and make space for reinvestment in customer growth and product advancements.
Stephanie Princivil, a spokesperson for Lightspeed, declined to specify the exact departments affected by the job cuts and unfilled vacancies. However, she mentioned in an email that the company will share more details during its upcoming quarterly earnings report.
In recent years, Lightspeed has implemented various workforce reductions as Dax Dasilva, the company’s founder and CEO, resumed his leadership role. Additionally, in a bid to enhance shareholder value, Lightspeed underwent a strategic review. Although no decision was made to go private, the company chose to focus on strengthening its North American retail and European hospitality segments while divesting Upserve, a subsidiary offering restaurant management solutions.