I think Alantown hasn’t considered the 6th point of the transformation, morale! After coming in and making a lot of statements like, “I don’t see bankruptcy”, “we have plenty of liquidity”, “I don’t see us being delisted”, many employees got excited and bought Avaya stock. Now it’s all gone except the bad taste and the sting of having been mislead. His biggest challenge will be truly making this a destination place to work with some really bad morale he created himself. But hey if you’ve made 6 million I guess it is a great place to work, huh Alan?
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Apollo needs you to work hard so when they sell off pieces they get a good bang from their pennies. I was a shareholder who got out last year when I saw a pattern, the legal restructure firm did similar with other firms. Sorry to all those who lost their stock equity as it could have been avoided.
"Businesses" like Avaya with they're sky high PE's, never really make any money and what money they do make they funnel into the bank accounts of the fortunate few who "guide" the company into ruin or blow the company's capital buying other lame "businesses". They never think about the real owners of the company. The shareholders. Avaya has never returned a dime of profit to the rightful owners of the company, the shareholders!
Lesson learned, never, ever, unless there's a very dam good reason, have more than 4% of your investment portfolio in 1 single stock. Company goes south you lose your job and your investments. Low cost SP500 index fund for stock market investments is best.
Leadership clearly stated in the Christmas 8K that more cost reductions ( layoffs ) of approx $250m were coming in Q3 and this maps perfectly with the " packaged 90 day Ch11 " plan so June 23 is going to be really painful.....
More Layoffs are projected post the Chapter 11 filing. Lenders have managed this to BK to sell off Avaya in pieces. This never was in the best interest to turn things aroung at Avaya or its employees. This is simply greedy lenders ala "Wallstreets" Gordon Gecko.
To top it all off, they're still moving forward with Engage, which I know from personal experience is a $1 million+ event/boondoggle that never makes them any money. Absolutely irresponsible use of extremely limited funds.
Another small time stock holder here via the stock plan.
Wasn’t part of it long (maybe 18 months) but invested £3000 which are now worthless…
Feel relieved to be out now, having secured an external opportunity but feel for my former colleagues that are still “in” who are just being worked to the bone…
Alan's next all hands will be interesting what bull siht will he try and spin this time around 🤔 he mislead everybody with I don't see bankruptcies but I forgot to mention I see my bank account grow by $10m this is truly a destination place to work for a very very few.
This thread made my morning. Thank you. Agree. Time to call out the ridiculousness. And time to accept what Avaya isnt. Don't jump on to yet another narrative redirection campaign. Just be real. Avaya is not anything like they want to pr spin claim. Why bother. The market would accept Avaya better with it learning humility and being real. And not phoney hashtag authentic self soundbyte real. Really real.
So sorry to all my former Avaya peers that have been hanging in there through all of this. Look after yourselves …start looking for something now while you have a job still. Much easier ! Trust me. You don’t know how toxic it is there until you leave. It’s like a fog is lifted when you see what it feels like for a company to value you, and where your contributions truly matter.
#funfact I’m like so totally surprised! It’s like totally unbelievable that this could happen when I was like like totally almost working a hot dog stand for the NFL kind of sort of but like totally don’t worry about that. Like there are partners out there that like totally are awesome. Even though they are positioning Cisco and Zoom to every single Avaya account they have access to in order to replace Avaya. But like seriously #funfact my last over photo shopped post got like way over 32 impressions. It’s like all good. I put a little trademark next to my name. It’s so super helpful when clients that have spent millions on Avaya infrastructure and now they are being end-of-life-shot-no-longer-supported just magically forget that. And wow like if my superfriends comment for their network to all the people that keep getting laid off that must mean everything is just like super duper. #funfacts
Today Alan has “Spoken”!
No one blames Alan. Avaya was valued at 8.2 billion in 2007. Most everyone who has worked for or touched Avaya has lost either their livelihood, retirement or investment. Anyone who invests in Avaya whether a customer, employee or investor at this point has to be a fool.
Loads more layoffs just ahead. That is not enough money for Avaya to be anything other than a holding company
Ha ha Post ID: @1mkl+1lbqO7qy Bi--h Slayer has joined to shame us and kiss 💋 Alan's A-s with her Avaya Red 💄.
Honey, do you know what the SEC is? Do you know that Alan was part of misleading statements? He has been CEO for over 6 mos and has collected $10m in bonuses and $2.5 of his 5m salary. He is complicit. And allowed shareholders to buy on the open exchange knowing their shares would become worthless. That's a CRIME
Why blame Alan Poor?. You obviously were investing when JC was at the helm of the USA Titanic. Stop moaning and either leave or hunker down and make Avaya what it can be.
800 million or whatever it is, is not a lot of money. Nortel had five billion in cash when it filed and blew thru it in a heartbeat. My question is, will Avaya focus on the global business or will it build back better here in the States? It will be interesting where Avaya's priorities are.
Glad I invested in the Avaya stock plan, had I not I might have wasted it on entertainment, family outings, holidays and making happy memories.
Thanks Alan, thanks board, you have made a small stock holder truly understand that you only line your own pockets. I hope court and prison are in your future, but that’s just wishful thinking you all find a way of paying yourselves even more for your outstanding performance.