Layoffs continue. We should change our name to AVID Layoff Technology (since that is the primary business we are in). Watched more great co-workers, people and friends lose their jobs. No value is placed on dedicated and productive employees. It end never ends. Show employees the door and then some executive brings a friend in. When we initially moved to Burlington (which was a total and absolute waste of millions of dollars and totally unnecessary) we occupied 3 buildings. Since then one building was completely closed, and a 2nd building will be almost empty (with us occupying a small section of the building). We will occupy probably only 35% of the space we once did in Burlington. Down-sizing continues as well as the effort to move jobs to lower cost regions. Not a place to plan a future. The board of directors and executive staff have no idea how to get the train on the track and headed in the right direction. They continue to execute guess work. And guess what, they haven't found anything which works.
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sweet
Hmmm .... I heard we are merging with Fisher Price. That would be a sensible move considering the design and execution of our products. They would be a big help to us.
Heard we are merging with ChyronHego
Maybe Avid should start a new consulting business on how to do layoffs
Totally agree, I don't us coming up with the 250 Million when it comes due.
Well from the inside looking in things don't look good. Doesn't take much to get the speculators in the stock market excited. We didn't make a profit in 2018. In fact our long term debt increased by 15-20 million and now we have around $250 million in long-term debt under very unfavorable terms with the lender. Give it 6 months and it will return to the $4.50 - $5.00 range. The profit takers will dump the stock. They are smart. The stock price does very little to benefit the individual contributors. The only benefit is that it makes the place a little happier because executives with significant numbers of stock options are happy because they see $$$ in their own pockets. We have maybe 2 or 3 analysts who cover our stock. Wow. Any reputable financial advisor would never tell an investor that this is a good long term stock to invest in. The long term debt is way, way, way too high, continues to increase and there is no way to pay it back.
That’s great news!! Hopefully Avid will continue this trend! Things look good from the outside looking in!! Keep it up!
Hey the stock is up 50% because we didn't totally blow 2018.
Yet you all willingly stay. For now. Enjoy it while you can. The train is about to make an abrupt stop that will most likely jar all the hangers-on from your seats.
Barnum and Bailey would be a great fit. They would pick up exceptional clown talent starting with the Executive staff, Board of directors and of course anyone who has a management title. Then all the clowns would be gone and the rest of us could get the organization back on track. Please make it so. This has gone on so long it is way beyond ridiculous.
Hooray for us. A smart takeover is finally likely confirmed very soon. Many will fall, the remains have a brighter future. Can't wait for this calvacade of clowns currently running our company to get ousted. This has been a pathetic for more than a few years. Enough of the charade and let's get back to being a respectable, smart company that focuses on the customers/prospects versus the current (not just past) used car salesmen, clowns in charge. Enough fun for them. Let's get professional again!
Rumors of a takeover and big changes on the horizon. So to all the trolls and gossip seekers. Stay tuned.
Hearing there is another round of layoffs coming up soon which is typical around Connect/NAB time. But as long as the executives and their pets get to enjoy some more extravagant dinners, host tacky, expensive “customer” parties and get to meet a few celebs along the way, it’s worth dozens of more hardworking, talented individuals losing their jobs.
Great engineers and good technology, but lacking in leadership and long-term vision. Mediocre managers come and go, they lay people off and restructure, bring in friends, make money, then it becomes clear they cannot make it work. And this pattern just keeps repeating. It's a tough marketplace, no doubt, but it seems they should be able to make it work because the brand is well-respected and the technology is good. But without a vision and good management , it's hard to see how they will make it.
The MBAs do not know how to make this company succeed. Maybe a wealthy musician or artist could buy Avid and find a way forward.
So you’re down in the lab area?