Thread regarding Avid Technology Inc. layoffs

Competitors like Adobe are simply taking Avid's market share

Efficiency plan simply means laying off people. What company ever prospered when its only action plan to make the company look profitable is to continually lay off dedicated and knowledgeable workers. Lay off workers out of desperation. Of course if you are in "one of the IN clubs" you might be safe for a while but don't get too comfortable. Next is to sell assets to try and avoid bankruptcy protection.

How do you pay off 100's of millions in debt when you cannot generate a serious level of profit? Answer = you don't, someone buys the company and salvages what they can. Then Avid is history.

Nice job by the executive team and board of directors. Clueless. Competitors like Adobe are simply taking Avid's market share and at this point it's not even hard to do as so many former Avid users are abandoning Avid poor and broken solutions.

by The Reality
| 4781 views | | 7 replies (last September 24, 2019) | Reply
Post ID: @OP+OkMVyGC
Comment! It's anonymous!

7 replies (most recent on top)

Why does Avid have so many bad reviews on glassdoor?

Because that's how employees feel

by Anonymous
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Post ID: @cSbtg+OkMVyGC

@Sara

Some people think that the truth can be hidden with a little cover-up and decoration. But as time goes by, what is true is revealed, and what is fake fades away.

Why does Avid have so many bad reviews on glassdoor?

by Anonymous
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Post ID: @1ckqm+OkMVyGC

I keep hearing that Belden(Grass Valley) is sniffing around to acquire us.

by Anonymous
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Post ID: @1aeea+OkMVyGC

"You thought you were in the "In Club" yourself. Guess butt kissing, phony and flighty behavior didn't pay off after all. How much do you love the CEO that you praised and bowed to for years do for you? It was a matter of time and PR savvy was not as bullet proof as one may have thought."

Hey Coward Behind a Keyboard,

A prominent editor sent me this link. He was angry on my behalf and really concerned about what's going on at Avid. I reassured him it's a good company with some great people. I don't believe in annonymous posts on sites like this or Glassdoor. They always seem to be from nasty, unhappy people and rarely contain even a kernel of truth. I do not post anything that I'm not confident signing my name to. I have many very close and dear friends at Avid and I would never wish them, or Avid, to fail. I hope you get some help so you can work through your bitterness and become a person with the integrity to stand by their words. I wish you all the success that you deserve. Sara

by Sara
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Post ID: @11zed+OkMVyGC

Another disasterous quarter - $10,000,000 loss. It's not working! It's far past the time to finally let go and for all of us to move on versus supporting this costly charade. But, dear CEO, may we wish you and your family continued success with your primary beast - Black Dragon Capital.

by Anonymous
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Post ID: @llem+OkMVyGC

0.31 loss per share. Almost $200 million in debt + loans. Revenue from products continue to decline significantly. Revenue Numbers Continue to go in the wrong direction. Buildings emptied. Lights turned off. Transformation complete. Nice job by Lou and the crew. Saved the day. Took 4 years but got it done. Kudos to the employees who are left and continue to work hard. You inspire me to do the same and hope for a true turn-around. If we stay focused it might still happen.

by Hopeful Employee
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Post ID: @hrle+OkMVyGC

You thought you were in the "In Club" yourself. Guess butt kissing, phony and flighty behavior didn't pay off after all. How much do you love the CEO that you praised and bowed to for years do for you? It was a matter of time and PR savvy was not as bullet proof as one may have thought.

by Anonymous
| | Reply
Post ID: @1qte+OkMVyGC

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