Lightspeed is cutting about 300 jobs

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The e-commerce company says the move represents about 10 per cent of its head count-related operating expenditures, with half of the cost reduction coming from management.

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Lightspeed says the reorganization is part of its strategy to unify all of its acquired companies and products.

It estimates the cuts will result in a restructuring cash charge of US$12 million to US$14 million, primarily consisting of severance payments, employee benefits and related costs, primarily in its fourth quarter.

The company will release its third-quarter results on Feb. 2.

It says it expects its third-quarter revenue will be within its guidance range, while its adjusted earnings before interest, taxes, depreciation and amortization are expected to come in ahead of its outlook.