Our shares price dropped 36% yesterday. We made $3m profit - but that's before the $13m in interest payments every quarter... So it was a loss of $10m That loan will be the death of Avid The investors saw through Jeff's spin It can't go on... — read more
Topics regarding layoffs at Avid Technology Inc.
just looking for [quote] any new news ? [/quote] from avid — read more
Layoffs continue. We should change our name to AVID Layoff Technology (since that is the primary business we are in). Watched more great co-workers, people and friends lose their jobs. No value is placed on dedicated and productive employees. It end... — read more
I guess one would have to ask, is there anyone who still works at Avid that would actually care to step up with any ideas, new products, innovative ideas to enhance current product suite, and the actual skill to do it? If so, now would probably be... — read more
In April 2017 the executive staff proclaimed the AVID Transformation was complete. As a result profits would come pouring in and the stock would soar (double, triple or quadruple). Even if that happens it will still be a long, long way from the $65... — read more
On a rare upbeat note it is nice to once again see women in executive positions and being promoted. This is a welcome change since the days of the prior neanderthal CEO who viewed women as simply servants. Some of the folks on the executive staff are... — read more
Word is that Avid is putting big time pressure on their worldwide dealers to book equipment orders by the end of the quarter for deals that aren't closed, leaving them holding the can if the deal falls through after quarter end. This may look good... — read more
This place is a dump circling the toilet. It is a place of perpetual RE- organizations and layoffs. Never heard of an organization laying off so many productive and loyal employees. All to try and fill the pockets of a small group of executives with... — read more
Imagine it was either magic, a miracle or bullying GlassDoor. It would seem ethical to also pull down the bogus planted 4 and 5 star reviews. It hasn’t taken the naive new people long to figure out the state of the organization. A lack of direction... — read more
Place your bets... Without the Harmonic patent settlement this time, how will Avid fill the void this quarter? If the going is good: NAB was a big boost for Avid If the going is bad: NAB stalled deals in to Q2 — read more
Transformation Complete. Didn't work out too well. Loss for 2017 of $13,550,000.00 Loss per common share 0.33 These kind of results won't keep people employed. Blame it on Louis Hernandez who is now the "Fall-Guy" for the Board-of-Directors. 100's of... — read more
Its still a mystery here (remote office in the middle east...)
At least 4 people from my team were impacted. NAMM was positive from what I heard. Pro Tools is only 10 years behind other DAWs now. Few more people are on their way out voluntarily or interviewing. Sad.. I am giving it some more time to see what the... — read more
For the last few years, Avid has rolled out a round of layoffs immediately after NAMM. Has anyone heard anything yet on this front? Clench le cheeks on Monday? — read more
Interesting article with lots of facts: https://seekingalpha.com/article/4127815-avid-technology-expecting-share-price-revert-back-deteriorating-fundamentals — read more
So the brilliant "transformation" (which is nothing but B.S. and nonsense) Is complete per loser High maintenance King Luis. Who by the way is putting on a lot of pounds eating at all those nice meals while he travels the world on Avids dime... — read more
The lack of respected, talented leadership is decimating what's left of the Marketing organization charged with developing future, forward-thinking strategic plans that will enable our sales pipeline to help grow the business and generate revenue... — read more
Things we absolutely adored - the tablet cover raffle; the gorgeous booth babes; the legacy purple booth lighting that makes even garbage appear luminous; Louis' purple honker pocket rag; the booth babes (again); the staff social media hype (let us... — read more
Too many self-serving priorities - shocker! http://www.enterworks.com/engage/agenda/ http://www.prweb.com/releases/2017/09/prweb14654722.htm — read more
There are rumors swirling about a significant RIF on the horizon In quarter 4. Hoping it is just group paranoia that stems from historical actions coming out of the ROI-less fortune spent at IBC including the T&E monies wasted on the small army of... — read more
Efficiency plan simply means laying off people. What company ever prospered when its only action plan to make the company look profitable is to continually lay off dedicated and knowledgeable workers. Lay off workers out of desperation. Of course if... — read more
More layoffs ....... 2017 x 2 and the year isn't even over yet. For the 2nd time in 2017, Goodbye to many, many excellent, hard working, dedicated employees. Again employees with 15, 20+ years targeted and now history. But the executives live large... — read more
Does anyone know what is the story here?
The beast of burden, Louis Hernandez Jr, is going to be "resigning" his operational seat as Chairman and CEO in June. But the beast will remain on the Board. Okay - what is left in his wake is the recently appointed, bumbling Buffoon of a President... — read more
"The increased limit on one-time charges will provide the company with additional covenant cushion as it executes on further planned efficiencies, including greater than $30 million of cost savings in 2017, leading to a leaner and more directed cost... — read more
Avid copying my ideas. Sad!
...or lower cost center. Goodbye Massachusetts. — read more
When the snr mgmt people spend weeks huddled away in rooms, cancel meetings at the last minute and stop micro-managing, then you know something is coming. Just as last year, the layoffs commence after NAMM. It's worldwide with a focus on moving roles... — read more
Stay tuned for the repeat episode from January 2016. It's post NAMM again which means time for more heads to roll.
In his "spare" time, Louis Hernandaze Junior runs his equity fund with a focus on the media industry. Avid's former CFO who resigned recently (John Frederick) who has also been LHJ's right hand guy for years is on the advisory board. It's no wonder... — read more
Don't believe the bullshit Avid tells you about their new support center in the Philippines having 7 years of Media Composer experience https://www.linkedin.com/jobs/view/156552992 About You: A minimum of 3 years industrial experience either in a... — read more
I hear the next layoff for Burlington staff will be in the form of Muscial chairs as there does not seem to be enough desks for everyone in the consolidated space, as they darken half the building to save a few more cents.
whats the next trick up Avids sleeve? we were all told that higher graded staff had to take furlough and that the lower graded staff should do it as a guesture of good will, to help the company and all that and then on top of that, we get dictated to... — read more
I was told by my boss that we have 30 days as of June 1st. July 1st should show a large number of US team members to be laid off.
Louis Hernandez, Jr., Avid Technology, Inc. - President and CEO  "So if you wanted to take insights on how we are doing overall, the Web store sales that were up so significantly to navigate subscribers was helped mainly by the surge in Tier 3... — read more