Lightspeed Commerce Inc. has announced that around 250 positions will be affected due to workforce reductions and the decision not to fill certain job openings. The Montreal-headquartered software company stated that these measures are aimed at streamlining operations to pave the way for increased investment in customer growth and product advancements.
Stephanie Princivil, a spokesperson for the company, refrained from specifying the departments targeted by the layoffs and elimination of vacancies but mentioned that Lightspeed will provide more details during its upcoming quarterly earnings report.
In recent years, Lightspeed has undergone multiple rounds of workforce reductions following the return of Dax Dasilva, the company’s founder and CEO, to the helm.
In a bid to enhance shareholder value, Lightspeed conducted a strategic review which concluded without a decision to go private. Instead, the company decided to focus on strengthening its North American retail and European hospitality sectors while divesting Upserve, a subsidiary offering restaurant management solutions.