BURLINGTON, MA — Avid Technology announced a $68 million cost-cutting plan Feb. 29. Part of a broader “transformation” with a projected completion date of mid-2017, the company noted that “personnel-related savings account for two-thirds of overall efficiency gains,” and noted its decision to close or downsize staff at “redundant offices.” Avid’s work force, which has been cut back from more than 2,700 in 2009 to just over 1,400 in early 2015, will fall further from the latest round of streamlining, which is expected to cost close to $25 million over the next year. A significant number of the latest cuts hit the company’s pro audio divisions, including marketing, QA and R&D positions for the company’s Pro Tools and Venue products.
For more details please visit www.avid.com.
