Avid Sells Consumer A/V for 17 Million, cuts jobs

July 2, 2012, 02:52 PM


BURLINGTON, MASS.: Avid has sold off its consumer audio and video businesses and cut its workforce by about 20 percent, the company said today. Avid president and CEO, Gary Greenfield, said the divisions had declining revenues and margins lower than the rest of the company. Avid will focus its resources on Media Enterprise and Post and Professional customers.

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