Re: [Avid-L2] OTish: one step in the right direction

Smallish % but Motley Fool Article (bad me no link) suggests high
returns. (running for the door)

DD
On 7/2/2012 10:01 AM, Jim Feeley wrote:
> On Jul 2, 2012, at 7:50 AM, haus wrote:
>
>> I am surprised Gary survived:
>>
>> http://www.avid.com/US/press-room/Avid-Divests-Consumer-Businesses-and-Streamlines-Operations
>
> "The divested product lines contributed approximately $91 million of Avid's 2011 revenue of $677 million. As part of the transactions, certain employees of Avid will transfer to each acquiring company. Avid estimates that the proceeds from these transactions will be approximately $17 million...
>
> Avid also plans to reduce the number of its employees as it streamlines operations, with approximately 20% of its permanent employee base impacted by the divestitures and headcount reduction plans."
>
>
> I didn't realize that the consumer side was such a small(ish) percentage of Avid's overall business. So moving that off to inMusic sounds reasonable.
>
> Alas, that last sentence quoted above sounds to me like the headcount reduction extends into the professional side of the business. Hope our friends and good contacts at Avid make it through.
>
>
> Jim
>
> ------------------------------------
>
> Search the official Complete Avid-L archives at: http://archives.bengrosser.com/avid/
> Yahoo! Groups Links
>
>
>
>




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