Most ridiculous os how many of you claimed any rumor of Bankruptcy as complete hearsay.
How do any of those still collect a paycheck is beyond me!
Grow up you Avaya blind followers! Time to follow the only leaders who are smart enough to be honest!
https://example.com/HB1DNFdIaW
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): January 13, 2023 (January 11, 2023)
AVAYA HOLDINGS CORP.
(Exact Name of Registrant as Specified in its Charter)
Delaware 001-38289 26-1119726
(State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.)
2605 Meridian Parkway, Suite 200
Durham, North Carolina 27713
(Address of Principal Executive Office) (Zip Code)
Registrant's telephone number, including area code: (908) 953-6000
N/A
(Former Name or Former Address, if Changed Since Last Report)
____________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock AVYA New York Stock Exchange
Item 2.05 Costs Associated with Exit or Disposal Activities
On January 11, 2023, Avaya Holdings Corp. (“Avaya” or the “Company”) authorized a reduction in force with respect to its employees in Europe in connection with the Company’s cost-reduction actions. The reduction in force is aimed at aligning the size of Avaya’s workforce with its operational strategy and cost structure. The Company estimates that it will incur approximately $45 million to $51 million in pre-tax restructuring charges in connection with this reduction in force, all of which are expected to be in the form of cash-based expenditures and substantially all of which are expected to be related to employee severance and other termination benefits. The Company expects to complete the most recently authorized reduction in force and recognize substantially all of these pre-tax restructuring charges during the balance of fiscal 2023. The Company will amend this Current Report on Form 8-K to provide its estimate of aggregate costs incurred related to these actions once available, if materially different than the range noted herein.
The charges that the Company expects to incur in connection with this workforce reduction are estimates and subject to a number of assumptions, and actual results may differ materially due to various factors, including the risks and uncertainties described under the heading “Cautionary Note Regarding Forward-Looking Statements” below. The foregoing estimated amounts do not include any non-cash charges associated with stock-based compensation, or any cash expenditures or other charges not currently contemplated. The Company also expects to operationalize additional cost reduction actions that may include supplementary workforce reductions as well as other cost reduction actions unrelated to workforce reductions. Any such actions are expected to trigger incremental restructuring charges beyond those noted above as they are finalized.
The Company remains engaged in ongoing constructive discussions with its financial stakeholders to reach a comprehensive resolution to strengthen its balance sheet and position the business for long-term success.
Do you mean this?
Avaya Discusses Bankruptcy That Would Give Lenders Control https://www.bloomberg.com/news/articles/2023-01-12/avaya-discusses-bankruptcy-that-would-give-lenders-control