E-commerce Company Lightspeed Cutting 300 Jobs, Streamlining Operations

Hundreds of jobs are on the chopping block at Lightspeed, as the Montreal-based e-commerce company streamlines its operations.

In a news release on Jan. 17, the company said it’s eliminating approximately 300 roles, or 10 per cent of its “headcount-related operating expenditures.”

“After several years of strong performance, this reorganization represents the next deliberate step in executing Lightspeed’s strategy to unify all of its acquired companies and products,” the release reads.

“This new structure is expected to unlock efficiencies after absorbing employees, technology and processes through [our] most recent acquisitions.”

Lightspeed added that half of the cuts are “coming from management layers.”

According to LinkedIn, the company employs a global workforce of more than 2,400 people.

Canadian impact

It remains unclear how many Canadian workers at Lightspeed are affected by the latest reduction.

In addition to Canada, the e-commerce company has teams all over the world, including in the U.S., the U.K., Germany, and New Zealand.

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