Restructuring at Avid Technology

Avid Technology (NASDAQ: [[ticker:AVID]]), the Tewksbury, MA-based maker of media editing software, disclosed in a filing with the Securities and Exchange Commission this week that it will pay out $7 million to $9 million in termination benefits as part of a workforce restructuring plan to be completed by the end of the first quarter of 2010. A spokesperson told the Boston Business Journal that some 120 Avid employees will lose their jobs; the announcement comes a little more than a year after Avid laid off 410 workers, or about 15 percent of its staff at the time. In another recent disclosure, Avid revealed that it plans to move its headquarters from Tewksbury to three office locations in Burlington, MA.

Author: Wade Roush

Between 2007 and 2014, I was a staff editor for Xconomy in Boston and San Francisco. Since 2008 I've been writing a weekly opinion/review column called VOX: The Voice of Xperience. (From 2008 to 2013 the column was known as World Wide Wade.) I've been writing about science and technology professionally since 1994. Before joining Xconomy in 2007, I was a staff member at MIT’s Technology Review from 2001 to 2006, serving as senior editor, San Francisco bureau chief, and executive editor of TechnologyReview.com. Before that, I was the Boston bureau reporter for Science, managing editor of supercomputing publications at NASA Ames Research Center, and Web editor at e-book pioneer NuvoMedia. I have a B.A. in the history of science from Harvard College and a PhD in the history and social study of science and technology from MIT. I've published articles in Science, Technology Review, IEEE Spectrum, Encyclopaedia Brittanica, Technology and Culture, Alaska Airlines Magazine, and World Business, and I've been a guest of NPR, CNN, CNBC, NECN, WGBH and the PBS NewsHour. I'm a frequent conference participant and enjoy opportunities to moderate panel discussions and on-stage chats. My personal site: waderoush.com My social media coordinates: Twitter: @wroush Facebook: facebook.com/wade.roush LinkedIn: linkedin.com/in/waderoush Google+ : google.com/+WadeRoush YouTube: youtube.com/wroush1967 Flickr: flickr.com/photos/wroush/ Pinterest: pinterest.com/waderoush/