I asked my manger if we will hear any news about BK this week! He said he didn’t hear anything, the only thing is aware of it that negotiation both way still in progress ! I am based in Dubai so keen to know what others hear/know?
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Looks like they are giving away the keys to the kingdom to save a portion of the kingdom from burning down... I'd bet IPOffie will be spun/sold off. And best of luck if they are going to stick with the Cloud or nothing strategy. Aura Enterprise still has a way to go before truly recognizing the real cost advantages of being a cloud offering/architecture...
Good luck, not sure the lenders have the same passion, patience, and compassion to compete in this telecom industry...
https://www.bloomberg.com/news/articles/2023-01-12/avaya-discusses-bankruptcy-that-would-give-lenders-control
Sounds like chapter 22 is coming.
In reference to the original statement, "I asked my manger if we will hear any news." The dictionary definition of manger is "a long open box or trough for horses or cattle to eat from." This may be why you are not getting a sensible answer.
What seems like the plan all along is to allow January to end without a filed 10K. This allows the lenders to file an involuntary BK. This is wrong if this actually happens. The BOD is not following a fiduciary duty to the company, it's employees, or shareholders.
- No leaders know anything. What EVERYONE knows is they are now inside the 2nd 30-day grace period automatically granted when a company misses filing earnings. They have until the end of the month. And we have learned that with any of these deadlines or extensions, not only does Avaya BoD use them, they find a way to manipulate time beyond the standard extensions ..just a long drawn out cat & noise game where they arrogantly believe their P E N I S measuring game of negotiation comes before integrity and transparency
- Reduction in Force cuts have alredy been accounted for. So there are no more "savings" to look forward to.
People are assuming BK! But the outcome can be different ! We are just guessing! The layoff is huge so cost saving may help ! A lot of things happening ! I hope things just clear-up this month - from NY
Canned and standard answer. Just a nuanced, “I don’t know. You’ll know when I know.”
Managers/Directors/Sr Directors won’t hear anything specific about BK moves or negotiations until after they’re done.