Lightspeed cuts 250 roles by laying off staff, not filling vacancies

Lightspeed cuts 250 roles by laying off staff, not filling vacancies

Lightspeed has made several staffing cuts over the last few years

Lightspeed Commerce Inc. 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 Stephanie Princivil did not answer questions about what areas of the company the layoffs and removal of vacancies targeted but said in an email that Lightspeed will provide more information when it reports quarterly earnings next month.

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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.

Tara Deschamps is a business reporter with The Canadian Press