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Lightspeed Commerce Inc T.LSPD

Alternate Symbol(s):  LSPD

Lightspeed Commerce Inc. provides a one-stop commerce platform, which helps merchants to simplify, scale, and provide customer experiences. The Company’s cloud commerce solution transforms and unifies online and physical operations, multichannel sales, expansion to new locations, global payments, financial solutions, and connection to supplier networks. Its one-stop commerce platform provides its customers with the critical functionalities they need to engage with consumers, manage their operations, accept payments, and grow their business. The Company's products include retail, e-commerce, restaurant and golf. It offers Point of Sale, Payments, eCommerce, Inventory Management, Advanced Marketing, Advanced Reporting, Scanner and others. It also provides POS software, iPad POS system, Cloud POS system and POS cash register. It provides cloud-based Point of Sale systems for retail stores and restaurants. It has customers globally in over 100 countries.


TSX:LSPD - Post by User

Post by Form001on Apr 04, 2024 8:02am
45 Views
Post# 35969823

Globe says Lightspeed Commerce to cut 10% of jobs

Globe says Lightspeed Commerce to cut 10% of jobs

2024-04-04 07:59 ET - In the News

 

The Globe and Mail reports in its Thursday edition that Lightspeed Commerce plans to buy back up to 10 per cent of its stock and cut 280 jobs, or 10 per cent of staff, in an effort to revive its struggling shares. The Globe's Sean Silcoff writes that Lightspeed announced the moves Wednesday along with other unspecified cost-cutting efforts in its facilities and operations. The initiatives come seven weeks after the board ousted chief executive officer Jean Paul Chauvet and replaced him with his predecessor, founder Dax Dasilva. The shake-up came after negative investor response to the company's third quarter financial update in early February, and Mr. Dasilva promised at the time Lightspeed would be "a long-term profitable growth story with operational efficiencies throughout" and a frugal approach to spending. Mr. Dasilva said in a statement Wednesday: "Lightspeed is now entering a new phase, one focused on profitable growth to capture the opportunity in front of us. This means making some hard decisions, like reducing spending in specific areas such as headcount, to allow for investments in others." National Bank Financial analyst Richard Tse says, "Given the announced actions, it's a positive move" by Lightspeed.

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