Avid Technology to Shed Roughly 350 Jobs
The Boston Globe is reporting that the company that makes audio and video recording equipment is reducing its workforce by about 20 percent.
The company’s worldwide employment will fall to about 1,400 from about 1,750, the company said, the Boston Globe states. However, it adds that "Avid would not say whether the sale of the consumer divisions would affect employment in its Burlington headquarters, where about 600 people work."
According to the Globe report, the staff cut is part of a strategy to improve operating performance. Avid is looking to focus on the professional customers who use Avid tools for editing movies, the story states.
As reported on Patch, the Burlington-based media company on Network Drive supplied the equipment used to edit seven of the nine films up for a 2012 Oscar in the Best Picture. Included in the list of top movies is the George Clooney film "The Descendents."
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