More details on the ouch here.
http://blog.devoncroft.com/2012/07/02/avid-divests-consumer-business-announ...
In addition to the termination of rank and file employees, two top Avid executives will also be leaving the company as part of this process. Company COO Kirk Arnold, and VP finance Jason Burke will also be leaving the company. The COO position will not be replaced, but the company said it will be appointing a new VP of finance.
So VP of Finance is going and will be replaced. COO position looks to be "downsized" out of existence. Hmm, no Chief Operating Officer.