Avid Technology is to cut more than 400 jobs in a re-organisation that will see its video, audio and consumer businesses operate as a single company.

Announced last week, the redundancies will come from all areas of the business and will predominantly reduce the amount of overlapping job roles at Avid, Digidesign, M-Audio, Sibelius and Pinnacle Systems.

Thirty-seven jobs - including at least two senior management roles - will go in the UK out of a total of 410 losses around the world. Once the cuts are complete, the Avid group will employ roughly 2,200 people.

“We have made workforce reductions at several of our locations around the world,” a spokesperson told Broadcast.

“This is a result of our effort to unify our video, audio and consumer businesses into ‘one Avid' where the opportunity exists to streamline some functional organisation and to create a more effective cost structure.”

A further 90 jobs will be removed from the payroll as a result of the company selling 3D animation business Softimage to Autodesk. The deal - which should be completed by the end of the year - will pull in $35m (£22m) and signals the end of Avid's involvement in the 3D animation software market. Avid bought Softimage from Microsoft in 1998 for $225m in cash and stock.

The company also announced its third-quarter financial results last week, revealing that revenues were $217.1m (£140.9m), down year on year from $226.8m (£147.2m). It made a net loss of $66.4m (£43.1m), compared with a loss of $5.9m (£3.8m) in the third quarter of 2007.

Meanwhile, Avid has named former Autodesk media and entertainment EMEA director Patrick Jocelyn as vice-president EMEA. Jocelyn starts next week