Lightspeed Commerce Inc. said it would cut its workforce by 300 positions as part of a reorganization initiative aiming for profitable growth.

The Canadian e-commerce platform said Tuesday that half of the layoffs would affect its management ranks and account for about 10% of its headcount-related operating expenditures.

“This new structure is expected to unlock efficiencies after absorbing employees, technology and processes through its most recent acquisitions,” Lightspeed Commerce said.

The company said restructuring is set to cost overall between $12 million and $14 million, mostly owing to severance payments and employee benefits…

The full post is here.

More here: “Lightspeed Commerce Streamlines Operations with a Continued Focus on Profitable Growth“.

And here: “Important Changes to our Team and our Business“.

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