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 millions in debt and loans due in 2020. Not a pretty picture. New CEO is not CEO material. Used car salesman? Yes he is. He was the most convenient option when they unfairly made LJH the scapegoat.
19 replies (most recent on top)
WOW.. Destructive, negative and non-productive AND searching for a new gig while here.. all on Avid's dime. You are a real special kind of cat eh?
I can assure you that I and many of your fellow colleagues would be more than happy to help you circulate your resume and at the same time cut off the poison supply that you continue to circulate through the system. While we are all entitled to our opinions, it is clear that you are vile and unhappy and frankly not welcome within these ranks any longer. The sooner you can find yourself a new position the better. Glad to pass along a reference to your potential new employer if it will help get rid of you at a faster pace than this forum will. Will be in touch.
This is so typical of the conduct at AVID and the way we operate. We are out here in Vegas trying to put our best foot forward and we have 2 employees waging war on a public website. This is embarrassing. It is embarrassing enough that we announce new products by AJA, Blackmagic, Seagate etc. in our booth and at the show. At least it is a good place to network for a new position.
Haters - please give the current team here some credit for enduring the Louis cyclone and doing the best they could to hang in. As a former employee just recently made aware of this odd site, I am so happy for those who endured Hurricane Hernandez and I can imagine these individuals will now shine bright and persevere, raising the company back up where it belongs now that the cloud has been lifted. Give them a chance.
Its really cool that folks can come on a site like this and bash their fellow employees under the supposed cloak of 'invisibility'. You are a disgrace and the biggest favor you could do us all is to take your negativity and nastiness and leave Avid (and Vegas) stat! There are plenty of us left at Avid that have full faith in the direction it is headed and are happy and eager to help it all happen! There is some amazing stuff on the horizon so hold on tight! If you knew your a** from your elbow, you'd know exactly what I mean. Stop being part of the problem and step up and be part of the solution! If you are so Marketing saavy, and know how things 'should' run, then by all means, we need a CMO so come on down! You are clearly a coward and posting anonymously and ridiculing your coworkers makes you feel good. Guess what? Anonymous isn't always what you think it is.... so keep it coming. If you think you haven't already given yourself away, think again! Have a GREAT time in Vegas on Avid's dime! Oh..... and go look up the definition of hypocrite because your picture will be right there next to it!
Sad. Real-time Tweets and Instagrams from the Avid team here at Connect Fest are exemplifying us as spending our increasing debt on booze and parties for our own personal fun (you go, Channel Marketing Chicks - more smiles and c---tails -woohoo you - you are so contrived and know nothing about strategic social mktg that actually moves the needle versus your selfie, c---tail-in-hand posts). Who’s in charge here of America’s Field and Social Marketing? Clearly no one given the imbecility behavior. It’s Amateur Hour. It’s time to grow up and wake up. We are a ship of fools with no operational direction. The embarrassment continues. Customers on site this week are ridiculing us in a major way.
Well said. I'm with you. Lets stick it out until all of the useless executive staff and the rest of the executives are booted out the door the same way that 60%-70% of the employees were trashed like garbage. The Avid executive staff and Board-of-Directors are quite proud of trashing 60%-70% of the workforce. And look at the absolute mess this company is in as a result. The biggest piece of garbage was of course Hernandez. Followed closely by Hawthorne and the board of directors. And of course Hernandez ever changing executive staff of spineless worshipers. But right now he had the last laugh with the money he made and the life he lived as the CEO for 5 years. Traveling the world blowing money left and right via his limitless unquestioned expense account. Then there is the flush the money down the toilet with his "people will look at me" ACA sham. The majority of the 60%-70% of the dismissed workforce were good hard-working people that were a benefit to the organization. Many with technical expertise that will never be replaced. They definitely got 20% of the lay-off candidates completely wrong. Those people lost their jobs because other people kept their jobs due to being in the good old boys and girls club as cookie cutter, groupie dispensable disciples (sorry I borrowed those words from the prior persons spot on post). So if you were in the right "clique" and s---ed up to your boss you kept your job and some other employee who was actually useful to the organization was instead let go. The new CEO is a useless poser. Nothing will get better unless this organization rids itself of at least 90% of the director and above positions. I'll milk this situation as long as I can. But they will still get a strong contribution from me unlike the rest of the Milkmen who do nothing all day.
Addressing some of the recent commentary within this post advising the disgruntled to move on... Nope. Versus you generics, we employees who have been, still are, and will continue to be the actual end users who truly understand the technology we represent plan to “solve the problem” by outlasting you and the entire, vanilla executive staff along with their cookie cutter, groupie dispensable disciples . We will remain passionate and will continue to voice our disdain, looking forward to the inevitable day that the current, entire executive toilet bowl (along with their desperate groupies) are flushed away (again) so that individuals here who actually invent, evolve and CREATE using our products can help salvage what’s left. And chuckle chuckle - new CEO. Sad you have a rep for making fun of many devoted employees you pretend to sort of respect behind their backs. Most truly doubt you can even fill the teeny tiny shoes of your predecessor.
"From what we in the industry see, the core products that are made by Avid are still a force to be reckoned with and the company is finally in better hands. Looks like things will be trending upward from all indicators." HARD TO BELIEVE if 50 to 70% of the staff has been "relocated" (fired or resigned) meaning the knowledge / passion has also "relocated". This is reflected (low moral + high turnover) in the quality of the products, solutions and services being offered. The so-called industry for Avid is small and getting smaller every year. Look at our marketshare over the last 10 years...
I agree. Move on. Don't waste your time or theirs. I moved on over 3 years ago and it was the smartest thing I ever did. It was great to get off a sinking ship. It is awesome to now work in an organization that values employees and is in a strong financial situation with growing revenue and happy employees (there are always haters here there and everywhere). Don't miss the back-stabbing or groupie clicks, but those are destined to happen in a difficult environment where lay-offs and financial issues are the norm. Any company can have the greatest employee ratings, but there are always a few haters who will trash the place on public sites such as this. If I would have let a few unhappy employee posts sway me I would never have taken the job I did. The Gary Greenfield years were a total loss and lasted a lot longer than expected. Once LJH came along it became evident the situation wouldn't get better. So simply find the right opportunity and move on. You will find that it will be the best thing for you and an employer you no longer care for.
Couldn't agree more with the last comment. If employees at Avid are so unhappy and are hearing about all the fabulous opportunities beyond Avid, why don't they pursue those opportunities and stop complaining. Instead of exacerbating the problem, be a part of the solution and try to fix things.
Sounds like there are some really disgrunteled employees at Avid. Why do you remain if you are that miserable? Are you also attending that soire that you are so bitter about and being a hypocrite about it as well? Seems to me that if your standards are so much higher than the ones you are leveling in your comments that you would have well moved on by now. Do you have an actual understanding of what is truly going on there or are you just guessing? If you truly know and are still this miserable, may be time for you to rethink things. From what we in the industry see, the core products that are made by Avid are still a force to be reckoned with and the company is finally in better hands. Looks like things will be trending upward from all indicators.
I totally agree with the prior post Re: Marketing and Products. Free ride for many a useless folk for quite some time. These people in question are either in good, kiss b--- favor with the current exec regime or have legacy ties. But apples to apples - they are overpaid and under experienced as compared to the cutting edge, new norm. Antiquated. It's a popularity contest versus prioritizing talent who can inject strategic, functional innovation within Marketing and Products. Plenty of time to get manicures, take PTO, gossip around the water cooler and avoid evolving the organization as a whole. Who has been in charge of Marketing anyway the past couple of years? No one. It feels like Easy Street yet also a dead end.
Preceding post - You are either an idiot or a kool-aid infused robot (or both). Get a clue. The assessements made by the individual referencing the "party", the has-been execs, the exorbitant, Wynn Hotel expenses - SPOT ON! Companies in-debt and on the verge of bankruptcy shy from financial showboating waste like what's about to transpire at NAB again this year. It's an embarrassment for us to behave this way when our entire customer base recognizes we are drowning. It's a party for Avid staff - period. We are the only ones that talk about/care about it. You're either a paid shill or a sideline ignorant. Blatant.
"Employee tired of being mislead and unappreciated" you must be well beyond frustrated and ready to move on but it also seems like you have held on for quite sometime yourself. For what is the reason? Is there something you feel is worth staying around for or is all the hope lost? My tenure is short to this point but employees like you who have such a great understanding of the business ins and outs should be using your big voice to turn around the business to positive. Some of us don't get to understand this Connect event and how can we get to go? Is all the employees invited?
Agree, hilarious and at the same time quite sad. Hilarious that someone would actually think LJH was the scapegoat. These financials are a result of LJH's 5-year "Transformation" of the organization which he proudly proclaimed as complete. Based on his comments, the money would come rolling in, profit income would be very significant and revenue would be going up, up and away. Agree with the "away" part. It was sad to see the investment community mislead as well as the employees. The way the CEO and CFO presented the 2017 results as positive was quite laughable. You would think they were presenting to school children rather than a knowledgeable investment community.
Working for this organization in the trenches is thankless. A lot of the old-timers making huge salaries are doing very little and simply waiting to retire or get a severance package. The younger and newer part of the workforce is simply trying to "hang-on". The Board-of-Directors has been very negligent in leading the organization. It is evident that they just don't know how to lead this organization. It is simply lead by "try that", "oh that didn't work so try this". Beware, Q1 is always the weakest quarter. Tons of money will be spent frivolously at Avid connect. For the person who asked - Avid connect is a very expensive event staged at the Wynn in Las Vegas before NAB starts. Basically a big party / get-together for "executives", marketing and product management folks to hangout with customers, chit-chat, do presentations convince them that Avid's products are good. All of these Avid employees (and there are a large number of them) stay at very expensive rooms at the Wynn. Rental of the Wynn facilities for the gathering and parties is extremely expensive as the Wynn is one of the (if not the most) expensive Hotel / Casino's in Vegas. There will be all kinds of money needlessly spent for nice dinners, drinking etc. etc. with zero accountability. To cover this wreck-less spending, which provides almost zero for a return, may mean cutting jobs, salaries etc. of individual contributors. Then we will hire more executives because we need more of them and their useless hot air to turn this floundering, money losing organization around. Yes time to move on. I am actively looking as are many of my co-workers. The majority of those who left or were laid-off ultimately found themselves in a much better culture and atmosphere with their new employer. If I worked in product management or marketing I would stick around and continue to enjoy an extremely well paid ride doing next to nothing. Those organizations have an enormous number of directors and higher level positions.
What is ConnectFest and what does it have to do with anything here?
But let's spend a make-believe fortune on Connect Fest so the staff can tie another one on and drown their sorrows.
This post the most hilarious thing that I have read ever. What happened here, and with the former CEO of that company, can be summed up in one word. Karma. And I will just leave this here.