07:53 AM EST, 12/02/2024 (MT Newswires) -- Lightspeed Commerce ( LSPD ) on Monday said it will cut 200 jobs as part of a strategic reorganization with most of the restructuring charges to be incurred in the third quarter of fiscal 2025.

"As we discussed on our Second Quarter Earnings Call on November 7, Lightspeed is focused on growing where we have the strongest product-market fit and right-to-win, particularly in North American retail and EMEA hospitality," said Lightspeed Founder and Chief Executive Officer Dax Dasilva.

Lightspeed reaffirmed its outlook for revenue and adjusted ebitda announced last month.

The company's shares were last seen down 1% at US$18.60 in in New York trading.