Lightspeed Commerce Inc. has announced that 250 positions will be affected by layoffs and the decision not to fill certain job openings. The Montreal-based software company stated that these actions are aimed at streamlining operations to enable reinvestment in customer growth and product advancements. Stephanie Princivil, a spokesperson for Lightspeed, declined to specify the areas within the company being targeted by the layoffs and job vacancies elimination but mentioned that further details will be disclosed during the upcoming quarterly earnings report.

In recent years, Lightspeed has implemented multiple workforce reductions as Dax Dasilva, the company’s founder and CEO, resumed his leadership role. Additionally, a strategic review was conducted by Lightspeed to enhance shareholder value, which concluded last year without a privatization deal. Instead, the company decided to focus on strengthening its North American retail and European hospitality divisions while divesting Upserve, a subsidiary offering restaurant management solutions.