Lightspeed announces reorganization, cost reduction initiatives

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.