Lightspeed Commerce Inc. has announced that around 250 positions will be affected as the company undergoes staff layoffs and decides not to fill certain open roles. The Montreal-headquartered software firm states that these measures are aimed at streamlining its operations and freeing up resources to invest in customer acquisition and product advancements.
Stephanie Princivil, a spokesperson for the company, has refrained from specifying the departments within the organization that will be impacted by the layoffs and job vacancies elimination. However, she mentioned in an email that further details will be disclosed when Lightspeed reports its quarterly financial results next month.
Lightspeed has implemented multiple workforce reductions in recent years following Dax Dasilva’s return as the founder and CEO of the company. In a bid to enhance shareholder value, the company underwent a strategic evaluation. Despite no decision being made to go private, Lightspeed decided to focus on strengthening its North American retail and European hospitality segments while divesting Upserve, a subsidiary providing restaurant management solutions.