"Avid plans to cut 410 jobs, sell 3-D unit" by Hiawatha Bray, Globe Staff | October 24, 2008
Avid Technology Inc. of Tewksbury, the leading maker of professional audio and video editing software, is laying off 410 full-time employees - 15 percent of its workforce - dismissing another 90 contract workers, and selling off its Softimage 3-D game animation software business in a major restructuring.
Avid chief executive Gary Greenfield said there is no clear evidence the economic crisis has begun to affect Avid. He said Avid's most vital customers, movie and TV production companies, are not yet cutting back production schedules, but added that TV commercial producers and music recording studios have expressed concern about economic conditions. --more--"Actually, THEY ARE, dude!
