MONTREAL — Lightspeed Commerce Inc. is cutting about 200 jobs in a strategic reorganization to focus on profitable growth.
The payment technology company says the savings from the cuts will be redeployed across its operations as it looks to prioritize resources on strategic areas of its business.
It expects that the majority of the restructuring charges will be incurred in the third quarter of its 2025 financial year.
In April, Lightspeed announced it was cutting about 280 jobs in a move to cut costs.
The company says the cuts Monday come as it continues its review of strategic alternatives.
Lightspeed also reaffirmed its revenue and adjusted EBITDA financial outlook it released Nov. 7.
This report by The Canadian Press was first published Dec. 2, 2024.
Companies in this story: (TSX:LPSD)
The Canadian Press