Lightspeed commerce, E-commerce company

Toronto, Jan 18 Global merchant commerce platform Lightspeed Commerce has laid off 300 employees, or about 10 per cent of its workforce, as part of a reorganisation to streamline the company's operating model while continuing to focus on profitable growth.The reorganisation includes the reduction of approximately 300 roles representing about 10 per cent of Lightspeed's headcount-related operating expenditures, with half of the cost reduction coming from management layers.The company said in a statement that the new structure is expected to unlock efficiencies after absorbing employees, technology and processes through its most recent acquisitions."We have done outstanding work to complete our goal of integrating each brand and rolling out our flagship products to market," said Lightspeed CEO JP Chauvet."This represents three years of hard, foundational work that is setting us up for long-term success," he added.Lightspeed estimates the headcount reduction will result in an incremental restructuring cash charge of $12 million to $14 million, primarily consisting of severance payments, employee benefits and related costs.Founded in Montreal in 2005, Lightspeed is dual-listed on the New York Stock Exchange and Toronto Stock Exchange.With teams across North America, Europe, and Asia Pacific, the company serves retail, hospitality, and golf businesses in over 100 countries.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Pahalgam Terror Attack

Tahawwur Rana

IPL 2025

CM Devendra Fadnavis

Mumbai Local

Weather Update

Lightspeed CommerceFOLLOW

Lightspeed commerce, Latest News

Technology :Lightspeed invests $6 mn in workspace interior platform OfficeBanao

New Delhi, April 11 Multi-stage venture capital fund Lightspeed has invested $6 million in seed funding in workspace ... ...

Technology :Merchant commerce platform Lightspeed sacks 300 employees

Toronto, Jan 18 Global merchant commerce platform Lightspeed Commerce has laid off 300 employees, or about 10 per ... ...