Thread regarding Avid Technology Inc. layoffs

Pump (up the share price) & dump (talented/loyal staff)

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 to offshore locations. All HR driven it seems, purely on cost, rather than talent. Thanks Ilan, good work...

Of course, they're pushing people out before there's any consideration of whether the talent they need is available offshore (frequently, it isn't).

Barely scraping through 2016 audit, expect a failure in 2017 (as corner cutting is rife).

LHJ continues to drive the firm into the ground to bump up the share price by cutting costs. The fact we owe $100million doesn't seem to matter. He'll jump before we hit the ground. This is quite possibly one of the biggest pump & dump schemes I've ever seen.

If you're an employee, get out, get out now... No-one is safe.

by
| 2997 views | | 7 replies (last )
Post ID: @OP+Ly71MSm

7 replies (most recent on top)

Louis Hernandez Jr bay far is the worst.

by
|
Post ID: @1Gujl+Ly71MSm

You also know when a company is falling apart when its debt continues to increase (avid is now carrying $200,000,000 in debt - that's a lot of zeros with the biggest zero being Louis Hernandez Jr). With the diminishing assets and poor earnings - this bubble is about to burst.

by
|
Post ID: @cvhp+Ly71MSm

Every time there is a layoff here - every time somebody starts screaming "they are shifting to offshore". When you guys understand that this "transformation" indeed affects all locations, including offshore?

by
|
Post ID: @1esd+Ly71MSm

Why fairly, long-enduring employees refuse to admit that their Titanic is slowly sinking and , in a convenient fashion of constant denial, seek out measely "positive" scraps (example - "Louis Hernandez Jr said hello to me today" (wow!) versus taking the bold approach by taking a chance with improving their career path and movin on - well - the fearful will go down and drown. Leaving this demonic, CEO dynasty a few months ago was the best move EVER. Unshackled and no regrets!

by
|
Post ID: @1een+Ly71MSm

You know a company is circling the drain when they start laying off sales staff.

Expect revenues to be down again next quarter.

by
|
Post ID: @ixl+Ly71MSm

How many people will be affected?

by
|
Post ID: @rkn+Ly71MSm

Spot on! it's the financial fiend's oldest trick in the book and we all know it! But Black Dragon Capital's shares are a plentiful and unrivaled other than Louis' (god, I hate that name) own personal shares.

by
|
Post ID: @tlr+Ly71MSm

Post a reply

: