Print
Email
Print Edition Stories
Online video firms target small video publishing companies
MHT's Efrain Viscarolasaga: How social networking is changing business
Local Motors: Open source car maker
Avid Technology Inc., a developer of digital-film editing systems, said Friday it will cut 120 employees as it restructures its business. A company spokeswoman was unable to say how many of those job cuts will occur in Massachusetts.
The company, which earlier this week detailed plans to move its headquarters from Tewksbury to Burlington, said it will incur between $7 million and $9 million in termination-related costs. Those outlays will likely be booked in the quarter ending Dec. 31, the company said in a regulatory filing.
Since 2006, Avid (Nasdaq: AVID) has overseen five rounds of layoffs, affecting some 291 employees globally, according to the company’s filings with the SEC. In each case, the company has paid between $38,000 and $97,000 in restructuring costs per employee, according to the company’s financial filings.
Google Finance lists Avid’s total employees at 2,350.
Comments
If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.
RSS Feeds
