After announcing a few weeks ago that David Krall will be stepping down as CEO as of Aug. 1, Avid said yesterday that it would be cutting “approximately 150 positions primarily, but not exclusively, in the company’s Video business unit,” according to a release on its second quarter results.
"We are realigning the business to have a greater emphasis on selling storage, asset management, and, most importantly, services,” said Krall in a conference call yesterday to discuss the company's Q2 earnings. “Q2 was a record quarter in services, showing 38 percent growth over Q2 last year. In Europe, we more than doubled our service revenue year on year … [but] product declines more than offset the increase in services in the U.S."

Post business was down 7 percent year-on-year; broadcast business was up 10 percent.

The "main change" was a "relocation of operations" [the press release refers to this as "video server engineering"] from Mountain View, CA, to Edmonton, Canada and Tewksbury, MA.

Nancy Hawthorne becomes interim CEO as of Aug 1.