Lightspeed Commerce Cuts 250 Roles to Simplify Operations

Lightspeed Commerce Inc. is cutting 250 roles through a combination of staff layoffs and leaving vacancies unfilled. The Montreal-based software company stated these measures aim to simplify operations and enable reinvestment in product innovations and customer growth.

This move follows several years of staffing cuts that coincided with the return of founder and CEO Dax Dasilva to the top leadership position. The company previously conducted a strategic review to increase shareholder value but decided against a go-private transaction last year.

Lightspeed is currently focusing on its North American retail and European hospitality divisions. As part of its strategic shift, the company sold Upserve, its restaurant management tools business. Further details regarding these changes will be provided during the company's quarterly earnings report next month.