Thread regarding Avid Technology Inc. layoffs

Suspect that person is at Avid for the same reason many are. Been there a long time make a huge salary for doing little work. May be that they are just going through the motions waiting to retire. Also many people make large salaries at Avid and no one else feels they are no where worth what they make (which is true for 80% of the workforce). So they stay. Also the new CEO is a nice guy trying to drive an employee friendly culture. Tons of people are simply taking advantage of that. There was more urgency and productivity when people feared for their jobs. When push comes to shove many are cowards and will not move on, and they have a more comfortable environment now not to. But that is being short-sighted and blind to the true financial disaster this organization is in. Even if we turned a true profit of a million dollars a year it would take 250 years to pay off our debt. We don’t have 250 years. What, maybe 3 years? The high paid executives, Estaff, VP’s, directors and managers , consulting engineers (of which there is very top-heavy number) will continue to milk the situation as long as possible because most have no where else to go. Lots of new people accepted positions because they were offered higher salaries than anyone else would pay them. That is the only way Avid can attract top talent. You have to give these folks plenty of $$$ to turn a blind eye to the financial state of the company. More power to them. Stuff your pockets with large salaries and bonuses while you can.

In reply to "No Future Here": just wondering why you are still working at Avid if everything is so wonderful everywhere else? Why haven't one of your former coworkers taken you away from all that misery to the new promised land they have found? If you are so enormously talented why would you waste anymore time on such a sinking ship? That does not sound very 'realist' to me. Sounds like you are simply miserable and wanted out long ago. What makes a realist hang on like that?

Stagnant is an under-statement. We just make a lot of noise about nothing, it is desperation pointing and screaming "Look at this specific exaggerated statement when we report our quarterly results". Gee, Like true investors can't see the true picture. Smart investors and investment firms are exactly that, which is "Smart". They see the true financial Data and results while the town cryers scream about a specific metric or two which are meaningless. Try to get investors to focus on "hype" statements. Further insulting the intelligent investment community. As I look around Avid everyday and see what is going on two things come to mind ...... Sears and Toys R Us. That is the path we are headed. The debt is enormous and continues to grow. If we cut all the useless significantly over-paid executive salaries that would be a great first start. 90% of the management staff would never be missed. We have so many senior managers , directors, senior directors, VP's etc. Directors and senior directors who have no direct reports? Yep, that certainly is a winning formula and great way to have a stream-lined efficient organization. The ratio seems to be 3 individual contributors per management executive. Invest your hard earned money elsewhere. There is no miraculous turn-around in the future for this organization, just a lot of screaming that we are going to do this or we are going to do that...... which we can never do since we are the most top-heavy company that ever existed. It's sad, but if you were one of us rare individuals who survived 15 years or more, you can say that once upon a time it was a great company. Many of my long term co-workers had no problem when the Grimm reaper called their number and 90% who I have continued to stay in contact with are so happy in their new roles at another organizations. They strongly recommend to "get out". Great advice certainly because we are headed nowhere and the severance package is now just awful. We let go of many of our most exceptional people and where we did replace them we replaced them with lower priced clowns 🤡. Congrats to those of you who moved on and found much better career paths and happiness with stable, profitable well run organizations. Expect people to continue to leave, while we hire incompetent tier 3 and tier 4 employees to try and stay afloat. We are sinking because all of our innovative thinkers and individual contributors who could deliver on innovative ideas are all just about gone. Add the enormous anchor of the salaries from top heavy management (way, way too many management people who's only contribution is to talk) and the future is bleak. If you are a realist and you work here you are quite aware of the true state of affairs