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An unnamed spokesperson for the Montreal payments company told BetaKit it made the layoffs as part of “organizational changes” so it can grow “responsibly and profitably.” Lightspeed did not respond by deadline when asked how many of the job cuts were layoffs. (The Logic, BetaKit)
Talking point: The layoffs are the latest move in a years-long effort to cut costs and revive Lightspeed’s underperforming share price. CEO Dax Dasilva said in a July earnings call that AI has reduced the number of staff the company needs, particularly in product development. In April, Lightspeed sold its U.S. hospitality business, Upserve, to Skyview Equity for up to US$81 million, 81 per cent less than it paid for the business in 2020. In February 2025, the company announced it would focus on a turnaround plan that includes remaining publicly traded, scuttling investor hopes it would find a buyer to take it private.
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