Lightspeed Cuts 10% of Workforce and Launches $140M Share Buyback, Aiming for Financial Efficiency and Shareholder Value
Portfolio Pulse from Benzinga Newsdesk
Lightspeed announced a reduction of 10% in its workforce to cut operating expenses and initiated a $140M share buyback program to enhance shareholder value.
April 03, 2024 | 11:05 am
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Lightspeed is reducing its workforce by 10% and initiating a $140M share buyback program.
The workforce reduction is a significant move towards reducing operating expenses, which could improve Lightspeed's financial health in the short term. The share buyback program, representing a substantial investment back into the company, signals confidence in its own value and is typically seen as a positive move by investors, potentially leading to a short-term increase in stock price.
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