Lightspeed Commerce Inc. has announced that it will be reducing its workforce by 250 positions through layoffs and not filling certain open roles. The Montreal-based software company states that these actions are part of an effort to streamline operations and free up resources for investments in customer growth and product development.
Stephanie Princivil, a spokesperson for the company, declined to specify the departments affected by the layoffs and unfilled vacancies but mentioned that Lightspeed will disclose more details during its upcoming quarterly earnings report.
Over the past few years, Lightspeed has implemented multiple rounds of staff reductions following the return of Dax Dasilva, the company’s founder and CEO, to his leadership role.
In a bid to enhance shareholder value, Lightspeed recently conducted a strategic review, which concluded without a decision to go private. Instead, the company has chosen to focus on strengthening its North American retail and European hospitality divisions while divesting Upserve, a subsidiary offering restaurant management solutions.