16:30:54 EDT Thu 23 Mar 2023
Enter Symbol
or Name

Lightspeed Commerce Inc
Symbol LSPD
Shares Issued 150,718,664
Close 2023-02-02 C$ 23.37
Recent Sedar Documents

FP/CP say Lightspeed Commerce to hire, shift focus

2023-02-03 09:19 ET - In the News

The Financial Post reports in its Friday edition that a month after laying off 300 workers, Lightspeed Commerce chief executive officer J.P. Chauvet says he has plans to hire between 150 and 200 more staff. A Canadian Press dispatch to the Post reports that Mr. Chauvet says the new additions will likely begin by the end of Lightspeed's fiscal year and will fill "contributor" roles rather than management positions, which made up 50 per cent of its last cut. He says moving laid-off staff into these new roles was not really an option because many of the fresh positions were in different locations and roles and the swaps could be seen as demotions. Mr. Chauvet's staffing strategy comes exactly a year into his tenure as Lightspeed's CEO and as the outlook for tech companies is becoming increasingly gloomy. The realities of the industry are part of why he sees now as the ideal time to double down on Lightspeed's quest to reach profitability based on adjusted earnings before interest, taxes, depreciation and amortization by the end of 2024. He believes Lightspeed will get there by focusing on larger, more premium clients, which can be counted on to spend more, drive sales and deliver high gross merchandise value.

© 2023 Canjex Publishing Ltd. All rights reserved.