Lightspeed cuts 7% of staff in second round of layoffs in 2024

What’s happening at Lightspeed?

Montréal-based e-commerce and point-of-sale provider Lightspeed Commerce is laying off approximately 200 employees, marking its second round of layoffs this year. These cuts represent about 7% of its workforce, which numbered roughly 3,000 as of March 31, 2024.

The layoffs are part of a broader restructuring aimed at aligning resources with strategic business priorities. Lightspeed stated that the affected roles are outside of its focus areas: North American retail (including Golf and NuOrder platforms) and European hospitality.

Official statements and context

• Profitability Focus: Lightspeed emphasized its commitment to achieving profitable growth. “Lightspeed is focused on growing where we have the strongest product-market fit and right-to-win,” said CEO Dax Dasilva.
• Active Hiring in Key Areas: While reducing its headcount, Lightspeed is simultaneously hiring for roles in product, technology, and go-to-market teams.
• Investor Relations: Gus Papageorgiou, head of investor relations, noted that Lightspeed aims to optimize its operations in regions and segments where it sees the strongest growth potential.

Earlier in 2024, Lightspeed cut 280 jobs and launched a stock buyback program as part of CEO Dax Dasilva’s initial moves after returning to the helm.

• SEE ALSO: Layoffs in Canada: Which Employers are Slashing Staff?

Lost Your Job? Get Help Now

📞 Contact Samfiru Tumarkin LLP: 1-855-821-5900 or request a consultation online.

Our experienced employment lawyers in Ontario, Alberta, and British Columbia (BC) have helped tens of thousands of non-unionized individuals resolve their workplace issues, including wrongful dismissals.

If you’ve lost your job at Lightspeed for any reason, don’t panic. We can review your situation, assess your legal options, and help you secure the compensation you’re legally entitled to.