Lightspeed Commerce Inc. has announced that 250 positions will be impacted due to staff layoffs and the decision not to fill certain vacancies. The Montreal-based software company stated that these actions are intended to streamline its operations and create opportunities for reinvestment in customer growth and product innovations.
A company spokesperson, Stephanie Princivil, refrained from specifying which areas of the company are being targeted for layoffs and vacancy eliminations. However, Princivil mentioned that Lightspeed will disclose more details when it releases its quarterly earnings report next month.
Over the past few years, Lightspeed has implemented multiple workforce reductions as Dax Dasilva, the company’s founder and CEO, resumed his leadership role. Additionally, in a bid to enhance shareholder value, the company undertook a strategic review, which concluded last year without a decision to go private.
Instead of pursuing a privatization route, Lightspeed has chosen to focus on strengthening its North American retail and European hospitality divisions. Furthermore, the company has divested Upserve, a business unit that provided restaurant management solutions, to sharpen its strategic focus.
