Restructuring at Avid Technology

Avid Technology (NASDAQ: AVID), the Tewksbury, MA-based maker of media editing software, disclosed in a filing with the Securities and Exchange Commission this week that it will pay out $7 million to $9 million in termination benefits as part of a workforce restructuring plan to be completed by the end of the first quarter of 2010. A spokesperson told the Boston Business Journal that some 120 Avid employees will lose their jobs; the announcement comes a little more than a year after Avid laid off 410 workers, or about 15 percent of its staff at the time. In another recent disclosure, Avid revealed that it plans to move its headquarters from Tewksbury to three office locations in Burlington, MA.

Wade Roush is a freelance science and technology journalist and the producer and host of the podcast Soonish. Follow @soonishpodcast

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2 responses to “Restructuring at Avid Technology”

  1. Vipin SS says:

    Avid has been our passion for years. We consider Avid as our standard plattform for editing. We were also hardcore fans of Softimage XSI.

    Coonsidering the recent job cuts and property sales doubts are gradually evolving in our minds. Some studios around us have switched to other Editing Systems. Newly commenced studios are also implementin the same Editing Systems.

    Though Avid provides best performance, the recent “Suite” concept is taking away Avid’s market.

    What so ever, my editing platform is always Avid. The standard Avid delivers is really and truly unique. The present market hijack is only “STYLE INFLUENCED ECLIPSE”. Avid’s appearance may not be stylish, but it adds value twice to its performance. Users will eventually realize it and will return to the King.