Thread regarding Avid Technology Inc. layoffs

Avid to Layoff mass US efforts July 1st 2016

I was told by my boss that we have 30 days as of June 1st. July 1st should show a large number of US team members to be laid off.

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Sounds like there is going to be a bloodbath post IBC

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Manila support sucks; the delays as they talk to high level support in the USA cause problems for us. We need quality over quantity.

Looks like a new MAM system for us in 2017/8 and GVG looks as bad from this angle? Where next?

Avid is in the sh--ter, they know it and all they do is pull the wool over everyone's eyes; I am out!

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agree with you about some of the manila team, they are good but some have been around for years and its not their fault the way the business is going, they certainly try hard but you can not give 4 weeks training and expect them to be able to support the product inside out, especially with products other than media composer and with customers who want highly technical support

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In all fairness to Avid Manila, the person Who contacted me for my case was really good and knowledgeable with Media composer better than my experience with support on previous years. I dont think they are insufficient at all.

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i think it will all depend on the figures for q2 so interesting time for us left at avid, personally i am looking for work elsewhere, not willing to be used and abused then disgarded

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Next up? Another layoff in October on its way. The inside word is to hold on to certain staff to help get the company through to IBC this September and then it's guillotine time again. I plan to resign before that but I feel badly about the pawns who will get used up only to be hacked. If IBC is a lame as NAB was for Avid this year, whew, brace for another industry wide embarrassment.

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nails it

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Ampanman, the spree was so they could cut the jobs of experienced staff in europe and the usa, nothing to do with exanding, its purely do to with cheaper staff in cheaper locations, which on paper is a good idea but in reality, the banks learnt many years ago that out sourcing to such locations doesnt work and customers dont like it, also the years of experience of the staff leaving cant be replaced by 4 weeks training of staff in manila, who dont have any previous experience either, despite what the recent PR statement said

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if q2 is good like you say its predicted, then why furlough - it makes no sense does it?

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You stated "if the q2 results are as bad as they are predicted to be then it could be a lot more going". Where are you getting your information. The 2Q is picking up steam from what Im hearing and the second half is looking really good and the 2Q reflects cost cutting and capital expenditures to implement the program.

read below from last earnings release

vid Everywhere Momentum Continues

Over 35,800 users on the MediaCentral platform at the end of March 31st, 2016, an increase of 51% year on year

Nearly 35,000 paying subscribers as of the end of Q1 2016, an increase of over 38% since the beginning of the year and over 3X Q1 2015

Bookings attributable to recurring revenue (“recurring revenue bookings”) represented approximately 34% of total Q1 2016 bookings, up from 29% in 2015

“Our work so far in 2016 demonstrates the continued momentum of the Avid Everywhere strategy, the increased adoption of the Avid MediaCentral Platform by our global base of customers and strong progress as we move steadily towards completing the transformation,” said Louis Hernandez, Jr, Chairman, President, and CEO of Avid. “I’m excited to see the impact of our groundbreaking product innovations that we launched earlier this month at the National Association of Broadcasters conference, including the first of its kind NEXIS shared storage, which won Best of Show and ProTools cloud collaboration, which brings the power of the MediaCentral platform to the entire audio creative market. At AvidConnect, we were also excited to showcase the first certified applications from our partners and a deep platform integration with Adobe’s Premiere Pro editing solution, validating our strategy and welcoming an outstanding partner to the platform. We also continue to execute our efficiency program as expected, which leverages our platform-based approach to achieve a leaner and more directed cost structure. As more customers fully embrace the power of the platform in 2016, we expect that we will be well positioned to increase long-term sustainable shareholder value.”

Avid’s 2016 second quarter financial guidance is set forth in the table below. The Company also re-affirmed its full year 2016 guidance, as originally provided on March 15, 2016. The second quarter 2016 guidance reflects partial year realization of the cost efficiency program, as well as the cash spend required to implement the program during the first half of 2016. The previously announced growth initiatives are expected to have a more pronounced positive financial impact in the second half of 2016 leading to improved cash flow generation.

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Next time to you Louis, be sure to ask him if he will be going on furlough too.

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If it is true, then do not take your 1 week unpaid leave. You will need all the salary you can.

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Interesting, I feel something is coming up here in UK as well. We should share this to see if we can get more people to share what they know...

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Is this real? I know they went on a hiring spree in Eastern Europe and Manila but I thought it was cos they were doing well ... Quite shameful

And makes y'all wanna jump to Adobe.

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I hear a furlough is next.

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that goes in line with what they have been planning, get manila up and running and good by US teams and if the q2 results are as bad as they are predicted to be then it could be a lot more going

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