Lightspeed Commerce Inc. has announced that 250 positions will be affected by the company’s decision to downsize its workforce and leave some job openings unfilled. The Montreal-headquartered software company states that the layoffs are part of an effort to streamline its operations and free up resources for investing in customer acquisition and product advancements.
Company spokesperson Stephanie Princivil declined to specify the exact departments impacted by the layoffs and unfilled vacancies but assured that further details would be disclosed during the upcoming quarterly earnings report. Lightspeed has undergone multiple rounds of staff reductions in recent years, coinciding with the return of Dax Dasilva, the founder and CEO, to his leadership role.
In pursuit of enhancing shareholder value, Lightspeed conducted a strategic assessment, which concluded without a decision to go private last year. Instead, the company chose to focus on strengthening its North American retail and European hospitality sectors while divesting Upserve, a subsidiary specializing in restaurant management solutions.
