Avid and Sony Hit Hard by Tough Economy

November 11, 2008, 07:08 PM

http://3dcinecast.blogspot.com/2008/11/avid-and-so...

Avid Technology, a maker of professional audio and video editing software, is laying off 410 full-time employees — 15 percent of its entire workforce — and dismissing another 90 contract workers. The major restructuring of Avid’s business also includes sales of Avid’s Pinnacle PCTV product line to Hauppauge Digital for an undisclosed amount, and Softimage 3-D game animation software business to Autodesk for $35 million. Among Avid’s remaining brand names are Avid video editing, Digides...