Lightspeed Commerce Inc. has announced that 250 positions will be impacted as part of the company’s decision to downsize its workforce and leave some job openings unfilled. The Montreal-based software firm stated that the layoffs are intended to streamline its operations and create space for reinvestment in customer expansion and product advancements.
Stephanie Princivil, a company spokesperson, declined to specify the specific departments affected by the layoffs and unfilled vacancies but mentioned that Lightspeed will provide more details during its upcoming quarterly earnings report. The company has undergone multiple rounds of job cuts in recent years following the return of Dax Dasilva, the founder and CEO of Lightspeed, to his leadership position.
In a move to enhance shareholder value, Lightspeed conducted a strategic evaluation 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 segments while divesting Upserve, a subsidiary specializing in restaurant management solutions.