Avid to Lay Off 410 Workers

On the heels of a big third-quarter loss, Tewksbury, MA-based Avid Technology, which makes professional video and audio editing software, announced yesterday that it planned to lay off 410 employees, roughly 15 percent of its staff. The company also plans to terminate 90 contract workers and sell its Softimage 3-D game animation business. The Boston Globe has a good write up.

Bob is Xconomy's founder and editor in chief. You can e-mail him at bbuderi@xconomy.com, call him at 617.500.5926. Follow @bbuderi

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