Avid Video to lay off about 20 percent of workforce

Filed under: Industry News

Avid Technology Inc., a Burlington company that designs technology for recording music and video, said today it will lay off about 20 percent of its permanent employee base as the company “streamlines operations” and sells various product lines.Avid has agreed to sell its consumer audio and video product lines. The company’s consumer audio products are being sold to inMusic, based in Rhode Island, the parent company of Akai Professional, Alesis and Numark. Separately, the company’s consumer video editing line is being sold to Corel Corp., a consumer software company based in Ottawa, Canada. Products involved in this transaction include Avid Studio, Pinnacle Studio, and the Avid Studio App for iPads, as well as other legacy video capture products.