Lightspeed Commerce Inc. has announced that it will be affecting 250 positions through layoffs and by choosing not to fill some open roles. The Montreal-headquartered software company states that the layoffs are part of an effort to streamline its operations and make space for reinvesting in customer expansion and product advancements.
Stephanie Princivil, a spokesperson for Lightspeed, declined to specify which departments within the company are being targeted for layoffs and vacant position eliminations. However, she mentioned in an email that more details will be shared when Lightspeed releases its quarterly financial results next month.
Over the past few years, Lightspeed has implemented multiple rounds of workforce reductions as Dax Dasilva, the company’s founder and CEO, resumed his position at the helm.
In a bid to enhance shareholder value, Lightspeed underwent a strategic evaluation that concluded without any decision to go private last year. Instead, the company decided to focus on strengthening its North American retail and European hospitality segments while divesting Upserve, a subsidiary that provided restaurant management solutions.