Archive | July 4, 2012

Avid to Sell Off Consumer Biz — Layoffs Continue

4 Jul

Avid has announced that the company is selling its consumer audio and video businesses and plans to focus on the broadcast and pro video sectors. In addition the company also announced another round of layoffs, the third in the past few years, This time another 20% of Avid’s employees will be laid off.  SCRI has reported extensively on the downsizing, layoffs and declining revenue trend at Avid over the past few years and this latest move does not come as a major shock to those following the recent performance of this company.
See the following SCRI articles on Avid: