Montreal-based Lightspeed Commerce announced Tuesday a reorganization that includes the elimination of 300 positions and the layoff of employees in all regions and all departments.
In a statement, management explains that the reorganization aims to streamline the company’s operating model and enable efficiencies after absorbing employees, technologies and processes from its latest acquisitions.
The 300 eliminated positions represent approximately 10% of Lightspeed Commerce’s workforce-related operating expenses.
The software distribution company says it will continue to hire for marketing and development roles.
The company is committed to providing departing employees with career transition assistance and a minimum of 12 weeks of severance pay, among other things.
Lightspeed Commerce expects the measures announced on Tuesday to result in an additional cash restructuring charge of $12 million to $14 million.
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