Thread regarding Avid Technology Inc. layoffs

Fourth Quarter Staff Reduction - True or False?

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 mostly useless staff who are the chosen ones to attend and pretend to have a purpose but are mostly wagging off the entire time along with prepping the overhead operating costs cuts in time for an Investors Summit in the U.S. --- but - where there is smoke.... Finalisation stages of the big "transformation"?

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Post ID: @OP+OPzb56X

8 replies (most recent on top)

Heads are going to roll soon before we get bought.

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Post ID: @1xjqx+OPzb56X

You cannot short stock under $5 bucks. You can play put options, but you cannot plain short it.

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Post ID: @dpeh+OPzb56X

The CEO is a self absorbed loser with no business or technology expertise. He thinks of women as much, much lower than men. And he thinks everyone is insignificant when he looks at his over weight, pompus, and rather unattractive reflection in the mirror. What an imposter, who has used his smooth talking B.S. to help no one but himself. Every dog has their day ........

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Post ID: @8erh+OPzb56X

There is money to be made on Avid stock. Simply buy short. It won't be long before the stock is under $3.00, with a $2.50 target before finally having to file for bankruptcy protection. Q3 is going nowhere, well "spiraling down" is where it is going ...... great job by the CEO.

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Post ID: @4vna+OPzb56X

So true. The fact that he still gets away with his penthouse suites and a frivolously abused expense account is ludicrous. then there are tacky, contrived parties he insists on like at Avid Connect that is built around his personal preferences and so he can be the center of attention again. Mommy sure must have ignored him as a child. These suites, dinners, booze and parties cost a small fortune and the sponsor contributions are no way covering all this. Hard to justify when good people are let go to reduce operating expenses while he continues to be entertained and expects to be positioned like a vapid celebrity, don't you think? I was in a conversation with two longstanding customers at the Wynn Hotel pool party at Connect. They were appalled by the whole thing and said that it felt more Kardashian than cool with all the predictable, Las Vegas junk like flash mobs and random attempts at entertainment that lacked any theme or tie to what we do. In their eyes (and I'm condpfident others) it was clearly the LHJ Show. Such a departure from the way we used to host customers in a personable, thoughtful manner which really resonated with the customer personas and portrayed us as a true leader versus these incredibly desperate, gaudy carnivals. TACKY. They said the only reason they came to that party for the short while was to see how much more laughable and ridiculous it could possibly be from the previous year and to also see for themselves where Avid is investing money because it sure isn't in the technology anymore. Damn straight. But this is ALL about LHJ (and some of the other coward executives) who likes to inject his pretentious, garish Miami "style" where it doesn't belong at expense of our once respected reputation, some hardworking employees' jobs and our dwindling bank standing.

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Post ID: @1srg+OPzb56X

Well... Avid lost $10m in Q2 alone. They are probably not tracking well in Q3.

If LH stopped the h--ker and blow parties they may reduce their expenses without layoffs.

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Post ID: @lcf+OPzb56X

Every single move that they claim represents transformation is just marketing! I think playoffs in the fourth quarter are fairly unlikely, however this is only my gut feeling

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Post ID: @zgf+OPzb56X

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