From what I've seen, between 25 and 50 people are getting let go every two to four weeks. Typically, this is at the beginning of the month and mid month.
Has anyone else seen these stealth layoffs and will they ever stop? If anything, it seems to be getting worse. By now, it's already about 100 employees, but it just keeps going and going. What's everyone else's take?
@24wg Sounds like things are going great. When is STG washing their hands of this?
2025 will and had more cost cutting measures world-wide, quarter by quarter. Quiet RIFs still occurring, video/audio expertise dissolving to non-existent, results of DTI/DEI efforts are miniscule, offshoring R&D of all the product portfolio to India is problematic, culture and employee morale is at it's lowest, employees remaining are working in fear, there is no leadership at C-level, and the eNPS score is hanging on a thread despite its good intentions.
More coming. Don't be fooled
Are they still doing layoffs or are people just walking out at this point?
any further updates feb 2025?
Does anyone even know the number of remaining employees?
All of media composer engineers and QA were informed a while ago the they’re being Laid off in March and being replaced by people from India. The STG way is to force them to train their replacements before they get the boot. Any users who think they’re getting new features in the future better stop dreaming. The levels of greed and incompetence by the new Executives is off the charts. It’s disgusting.
I was let go in March of 2024 and they paid out unvested RSUs. Did they stop paying out stock awards at some point during this "value unlocking" exercise/takeover?
Layoffs are not over—more this month including most of the Pro Tools and Media Composer development teams. Whatever's left of that work is being moved to India. Given that the last few "updates" have mostly consisted of adding on third-party products, it's unclear how much we'll ever see again in terms of new features. IMO it's just more cost-cutting to ensure profitability when the company is either sold or taken public again.
Regarding the earlier point about STG ousting JR, it's more likely that he chose to leave—and his decision may have even influenced the decision to sell the company. Consider that JR received the majority of his compensation since 2020 in stock grants (over $2 million annually vs $500k cash). When Avid was acquired at the end of 2023, JR held 1,176,590 shares, valued at nearly $32 million based on the sale price. Sadly, employees who were laid off forfeited any unvested stock awards, even though the company had chosen to pay our bonuses in stock options to conserve 'our' cash.
If you are a customer it would be wise to be learning another DAW or NLE.
This company kinda su-ks.
The company is being dismantled.
New managment no idea about video industry or i+d.
Product managment, support and engineering are being fired.
The future? Selling
These terminations are still going on? Has it even slowed down?
Does anyone know how many employees are left?
STG is clearing out all of the people with media industry and product expertise with the spine to try to advocate for the needs of the user base. They’re retaining the yes men that makes ki-ling the business easy. Clearly they are asset stripping.
They keep coming. and coming. and coming. and coming.
Do you know which groups were affected by the layoffs on November 1?
More layoffs on Nov 1st. If you’re an older employee at Avid you better pack your bags. It will happen.
Didn't they say the layoffs were over?
Entire staff in Ireland office laid off late September. Redundancy terms slashed compared to previous lay offs.
This is literally the worst ****ing buyout in the history of buyouts. What percentage has been let go so far? I am hearing 35%. I don't think that's a bad estimate.
More layoffs.....they want to retain their market dominance yet ruin the software in the process by firing their best people. stg must be having major buyers remorse now
End of June was a layoff frenzy. No end in sight. US workers being sold out by to Poland, Canada and Philippines .
I think most of the salespeople are also gone. I really don't know what the strategy is here. It looks more and more like asset stripping every day.
I've heard that the entire interplay mam development team in Kaiserslautern have been all laid off this week. sad state of affairs
Yes, it's still going on.
Is this still going on?
During the buyout, we heard about how "37 of 38 companies STG purchased were sold for more than they were purchased for." I wonder if it'll be 37 of 39 soon...
It really sounds like they're breaking the company apart and selling the pieces. They're going after a lot of people in corporate and operations instead of just the audio and video business units. Without products, why bother having support staff at corporate/shared services? It'll be probably be handled by Adobe corporate soon.
More cuts this week. No more sales staff and sales demo people all gone. STG must have found out that Avid was inflating their pipeline and sales projections. They spent 1.4 billion they’ll never see again. Couldn’t happen to a better group of money hungry people.
Is the new CEO getting anything done? STG pushed JR out and put this one in despite not really knowing media.
I just saw another batch of people get let go, so it's still going on.
Morale is definitely low. I forecast Avid going down as a company. Prices are increasing…
STG really messed up this company in about three months.
yup some of the best people are being removed. new ceo too. all the c-suites could talk about is growth above all, cutting costs. morale is very low, some people are leaving on their own accord.