Lightspeed Commerce Inc. has announced that it will be reducing its workforce by 250 positions through layoffs and leaving some roles unfilled. The software company based in Montreal stated that these actions are part of an effort to streamline operations and make space for reinvestment in customer acquisition and product advancements.
Although details regarding the specific departments affected by the layoffs and vacant position closures were not disclosed by spokesperson Stephanie Princivil, Lightspeed plans to provide further information during its upcoming quarterly earnings report. The company, under the leadership of founder and CEO Dax Dasilva, has implemented various staff reductions in recent years.
As part of its strategy to enhance shareholder value, Lightspeed underwent a strategic review 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.