Lightspeed announced a reorganization and cost reduction initiatives to facilitate the next phase of its profitable growth strategy. These initiatives are designed to improve the Company’s financial performance while also allowing for greater investment in key product development and customer experiences. The reorganization impacts approximately 280 roles representing about 10% of Lightspeed’s headcount-related operating expenditures. In addition, the company has undertaken several other cost reduction initiatives in facilities and operations. Lightspeed expects that the majority of the restructuring charges will be incurred in the first quarter of fiscal 2025, and that the execution of the restructuring plan will be substantially complete by the end of the first quarter of fiscal 2025.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LSPD:
- Lightspeed (TSE:LSPD) Shares Snap Up as It Considers Going Private
- Lightspeed launches Lightspeed Restaurant in Quebec
- Elevating the Culinary Scene: Introducing the Next Evolution of Lightspeed Restaurant in Quebec
- SpringBig launches new integration with Lightspeed
- Largest borrow rate increases among liquid names