Avid CEO/president comments on recent changes
January 13, 2011

Avid CEO/president comments on recent changes

BURLINGTON, MA — Amid the news that Avid has closed some offices and laid off some staff, president/CEO Gary Greenfield (pictured) has released a statement emphasizing that these actions represent a reinvestment in the business as opposed to cost cutting.

"We are in the process of a realignment of our business, which means we are reinvesting in new areas of growth for the company both from an innovation and geographical standpoint and want to stress that this was not a cost cutting measure.

"As we look across the business and continue to focus on the three-phased plan that we outlined in 2008 of getting healthy, driving growth and transforming the business – we are moving beyond the 'get healthy' phase and making some targeted adjustments that position us to take advantage of positive signs of growth that we see in areas like Brazil, Russia, India, China and the Gulf States. It is in that context that we are aligning some new job opportunities with new sources of growth in these burgeoning markets. In fact, our plan for 2011 is to in these new geographies and redistribute jobs from this recent realignment, while maintaining a relatively flat operating expenditure."

He concludes, "In terms of office closures, we've consolidated multiple offices in small geographic. For instance, we have a number of offices in the Bay Area. We recently moved all of our hardware engineers in Northern California to a central location in Mountain View. We’ve also consolidated a number of our infrastructure resources to central locations."