Avid Fires 129 Employees

Things are not looking good for Avid Technology right now! According to this source Avid has announced that 129 employees have been layed off due to restructuring. 118 of those coming from their video division. We all heard a little while back that David Krall would be stepping down as president and chief executive officer on July 31. To make things worst their last quarter’s financial results posted a net loss of $6 million.

Could this be a long awaited turning point for Apple? I hope so.