Lets jump up and down about our great results for Q2 2020. Oh brother. Revenue in 2020 will be less than revenue in 1995 (which was $406 million). You can look it up. Lower revenue 25 years later? Wow! Now that is certainly growth! We are at risk of not hitting $300 million in revenue for the year (just think ..... $100 million less than the revenue level 25 years ago). Lets use the Pandemic excuse. Long term debt continues to increase. Which, since Dec 31st 2019 increased by $27 million to $227 million. According to 5th grade math ...... Seems that is also moving in the wrong direction. Same with employees who have been shown the exit door (wrong direction). Then there is the $11 million year-over-year reduction in operating expenses which is a result of lay-offs, furloughs, pay cuts, and reduction in benefits. Yes the cost savings are extremely creative by the Executive staff. Goal is $30 million reduction in operating expenses. Which obviously means more layoffs, pay-cuts, furloughs, benefits reductions etc. Lets make sure the executives and their pets get their big salaries and keep their jobs. Look here to see execs getting increases up to 191%.
https://www.execpay.org/news/avid-technology-inc-2018-compensation-1993
https://www.execpay.org/news/avid-technology-inc-2019-compensation-1993
Yep, certainly well deserved. Real hard job. Lay employees off + give the self-centered greedy ones their salaries. Well just 1 building in Mass left to close up and call it a wrap.
There are no replies in this thread yet. Be the first to post a reply below: