Lightspeed Commerce Inc. has announced that 250 positions will be affected by job cuts and the decision not to fill some open roles. The Montreal-based software company states that the layoffs are part of an effort to streamline operations and free up resources for investing in customer growth and product advancements.

Stephanie Princivil, a spokesperson for Lightspeed, declined to specify the specific departments impacted by the layoffs and unfilled vacancies but mentioned that further details will be provided during the upcoming quarterly earnings report.

The company has undergone various workforce reductions in recent years as Dax Dasilva, the founder and CEO of Lightspeed, resumed his leadership role.

In a bid to enhance shareholder value, Lightspeed conducted a strategic review that concluded without a privatization deal last year. Instead, the company decided to focus on strengthening its North American retail and European hospitality sectors while divesting Upserve, a subsidiary offering restaurant management solutions.