Wave 2 of redundancies are beckoning. CFO has been tasked to save 250M USD, 1000+ head counts to be cut.
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EXACTLY!
Yet the minions are still running around claiming that Avaya is a $3b org and they signed impressive new business. This broken record never ends. https://www.thelayoff.com/t/1nPQvBTt
What's next? Personal Brand extraordinare is going to be on the cover of Forbes?
https://nypost.com/2023/04/05/forbes-mocked-as-another-30-under-30-honoree-accused-of-fraud-incredible-track-record/amp/#amp_tf=From%20%251%24s&aoh=16918671850733&referrer=https%3A%2F%2Fwww.google.com
Destination place to garden and collect redundancy.
It's a dump company now, finished.
He said over and over again "I am not a bankruptcy CEO" and "Chapter 11 is absolutely not in the cards"
If he really cared about balance sheet, he would have said no keep the $10 Million bonus and lets put that into R&D or keep it in available cash.
"We're going to rip the band-aid off, what we have to do we'll do it quickly". Boy, Alan's got more lie's than he can remember stating. Just about everything he told the employees back on Aug 3rd last year turned out to be false, the only thing he's got going for him are tough times in the job market or attrition would be through the roof. He wouldn't trade his balance sheet with any other company, goes to show you that's all he cares about. Some of that great balance sheet math says he traded a lot of employees jobs for that 10 million he took. I bet that was a "tough" decision. He might have a great balance sheet and fat bank account, but he left a pretty big path of ruined lives in his wake, his credibility is in the sewer. His definition of a DPTW is cruel.
SS has played ALL sides.
Not only went along with JC, proactively enabled JC.
Then jumped to support board to replace JC. Then jumped to AM to act like she was helpless with JC. AND THE person who was responsible for keeping Internal Controls in Check. The VERY Internal Controls that drove Avaya to Chapter11. SS lacks business sense. Has no instincts. Just knows how to posture and get paid. SS single handedly stiffled all proper innovation and growth due to enabling the stock game. Countless people exposed the mismanagement and were run out. Each and every one of those encounters should have resulted in SS protecting Avaya over poor leadership ..yet she decided to protect her own ar-e and collect her stock and bonuses. Toxic.
This company is doomed… jump ship folks before it is way too late
You see...CEO is only "Chairman of the Board" in PR Spin Tour ONLY. He has zero "power" when board seats are controlled by Apollo and Brigade. This Best Balance Sheet in the World BS Media Tour is running on Pay 2 Play D-Level Analyst fumes.
SS Incompetent is indeed the wizard behind the curtain. The most over paid project manager/order taker ever in the history of corporate America. Zero ability to have independent thought. Just has the paper credentials to get to C suite. Then just follows orders of the highest in command.
Too bad being a member of a bar association isn't required when you are literally just an overpaid project manager. Or else they would be disbarred.
If Alan wants to cut costs, here’s an idea for him: how about bringing in less overpaid friends from Vonage…..
Sad thing is that the person leading restructuring is our deal former general council, SS, the highest paid employee in the company, the enabler of previous corrupt CEO and the confidant of the new one.
Am afraid this isn’t fake news at all, probably more than 1000 heads are going to be cut by end of this calendar year. Apollo is starting to realise that the FY24 revenue plan isn’t happening. Downsizing the company to 4000 is the plan now.
Avaya an Argentina company soon. Thy should outsorce CEO CFO to argentina . The sallary for ceo in argentina is ike less than 400K
Wave 2?
Source for this. Cuts to be based where in the world?
60 in Galway office on garden leave last 4 weeks, they out on the 15th August, another 50 by end of September.
As others have said, come September, the "show" out on for Engage will be a distant memory. Private equity ownership will soon be felt.