The reduction represents about 10 per cent of the Montreal e-commerce company’s head count-related operating expenditures, with half of the cost reduction coming from management.
“This bogs us down, creates inefficiencies, distracts us from our mission and distances us from what matters most–our customers.” Following the acquisitions, Lightspeed worked to find a role for all its new employees while continuing to be agile, said Chauvet, who became chief executive in February, when Lightspeed founder Dax Dasilva stepped down.
As a result, Chauvet expects half of the savings from the cuts to come from management roles and said Lightspeed has reduced headcount at the vice-president and higher level by 25 per cent -- the largest percentage of impacted roles per employee level. The reductions appear poised to continue as tech valuations fall and people return to pre-pandemic habits. Job cuts aggregator Layoffs.fyi found 1,024 global tech companies laid off 154,336 employees in 2022 and two weeks into January, has already calculated another 91 companies making 24,151 cuts.
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