Montreal-based software firm Lightspeed cuts 250 roles
An employee works at Lightspeed Commerce in Montreal in January, 2024.Christinne Muschi/The Canadian Press
Lightspeed Commerce Inc. LSPD-T says 250 roles will be impacted as the company lays off staff and opts to not fill some vacancies.
The Montreal-based software business says the cuts are meant to simplify its operations and create room to reinvest in customer growth and product innovations.
Spokesperson Stéphanie Princivil did not answer questions about what areas of the company the layoffs and removal of vacancies targeted but said in an e-mail that Lightspeed will provide more information when it reports quarterly earnings next month.
Lightspeed Commerce open to further divestitures, CEO says
Lightspeed has made several staffing cuts over the last few years as Dax Dasilva, Lightspeed’s founder and chief executive, returned to the top job.
In hopes of creating more shareholder value, the company also conducted a strategic review, but it concluded last year with no go-private transaction.
Instead, the company opted to double down on its North American retail and European hospitality divisions and sell Upserve, a business it owned which offered restaurant management tools.
Read More: Montreal-based software firm Lightspeed cuts 250 roles