Lightspeed Commerce Inc., the one-stop commerce platform empowering merchants to provide the best omnichannel experiences, has announced a reorganization to further optimize its operations toward executing on the company’s focused profitable growth strategy.
This initiative is designed to prioritize resources for strategic areas of the business, maximizing the Company’s long-term growth opportunity, and redefining the organizational structure and operations of other areas of the business, it said in a news release.
“The reorganization will impact approximately 200 individuals, with the resulting savings being redeployed across other areas of Lightspeed’s business, in line with the Company’s strategic objective of further driving profitable growth. Lightspeed expects that the majority of the restructuring charges will be incurred in the third quarter of fiscal 2025,” it said.
“As we discussed on our Second Quarter Earnings Call on November 7, Lightspeed is focused on growing where we have the strongest product-market fit and right-to-win, particularly in North American retail and EMEA hospitality. We will continue to deliver exceptional services and products to all our customers, with a focus on reducing the complexity of our business and strengthening our competitive positioning,” said Lightspeed Founder and Chief Executive Officer, Dax Dasilva. “Since I returned as CEO, Lightspeed has been working harder to deliver on our profitable growth strategy. Today’s announcement reaffirms our commitment to building an organization that can fulfill its true potential.”
The company said it continues to be engaged in its previously announced review of strategic alternatives. The reorganization, it said, is part of Lightspeed’s optimization efforts aimed at achieving profitable growth, and does not affect, or inhibit, the ongoing strategic review process.
“There can be no assurances given, at this time, as to the outcome of this strategic review,” it said.
Founded in Montréal 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.
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