Avid to Cut Jobs

January 12, 2011, 11:09 AM


In a recent 8K filing with the Securities and Exchange Commission, Avid disclosed that it plans to restructure its operations during the first half of 2011 by eliminating positions "in lower growth geographies and markets," while reinvesting in "more strategic areas with greater opportunity for growth." Avid also said that it will be closing portions of certain office facilities as part of this process.

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