Quoting AM from today's meeting: "I do want to talk about maybe a bit more sobering topic which is we touched on the AIP at the last meeting. We didn't hit AIP plan and because the plan was based basically on earnings and we did not hit it and so there won't be a payout under the 23 AIP."
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No skills is a bit extreme.
Skills to be considered a "thought leader". No f'en way. Skills to contribute to an organization that only has room for a tenured, experienced, hit the ground running contributor? Absolutely not. Totally wrong fit.
Yet no one has no skills.
Company is doing great! No AIP! Pay no attention to that $hit load of money Alan got to sell his soul to Apollo.
Avaya announced they're ending HRA accounts and dental insurance for retirees on 12-31-2023. Merry Christmas! Happy New Year! I suppose the pension is next. Loved the way they closed the letter, "I know this is not happy news to receive, but it is a responsible decision and one that is needed to position Avaya for long term success". Well, at least it's for a good cause. I'm a former represented employee and unfortunately a shareholder, or at least I was, no idea what happened to my shares. Puts me to mind of a line in National Lampoon's Animal House, "Face it Flounder you _____ up, you trusted us".
Are you all FINALLY realizing Avaya isn't anything other than a holding company for Apollo/Brigade to milk assets?
You all were way too eager to believe some magic 🌈 diamond encrusted 🦄 was going to allow the charade to continue! See this old post! It has all come true!
@OP+1omKXFPI
Unless you are upper management and are a part of the MIP that was approved by the new overlords
I believe he gets 6 million in a cash "award" instead of a bonus so its not tied in to results or performance unlike aip and bonuses. He also gets a salary which i think is 1 million. He also gets to keep the 4 million that was supposed to be used to purchase avaya shares.
Even your corrected version is BS......I can't believe that you could even think about changing your opinion of someone that has lied to the employees as much as he has. The picture he painted for all the employees at his first two "All Employee Meetings" doesn't even resemble what he has actually done. A lot of employees took him at his word, he even stated in an interview in Galway "Words matter", yet he hasn't even re-addressed several things he has said and then actually done the opposite. He hasn't apologized for even one mis-statement. He insults every ones intelligence by not re-addressing his mis-statements, he just carries on with no regard for the damage his words have caused. He's just a liar and doesn't care, plain and simple. Man has zero integrity. It's a pipe dream to even thing a man that has zero integrity would not accept even 5 dollars, let alone 4 million dollars.
Updated and corrected version below:
You know.....and this is possible.... just imagine how different our opinions of him would be if he suddenly decided to do the right thing and announce that since avaya had to go into chapter 11 under his watch and currently has missed revenue targets, he was not going to accept the 10 million that is to be paid to him at the end of the year.
Alan Masarek, President and Chief Executive Officer $6,000,000.00
Shefali Shah, Executive Vice President & Chief
Administrative Officer $1,200,000.00
The Compensation Committee also determined that Mr. Masarek’s $4,000,000 sign-on bonus, previously paid to him as reported in
the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on July 29, 2022, can be retained
by him in cash, subject to recapture in the event of a voluntary departure or termination by the Company “for cause” prior to
December 31, 2023, which recapture provision will partially lapse upon certain specified events.
Does he get $10 M next month? Or is it $4M.
Terrible place to work. CEO is pushing his lies however, earning are down as expected.
No cost of living, no bonus, no vacation, no pay increase, supply your own office supplies, no 401k match. Why do people work at Avaya anyway?
It's always the same story, Avaya is thriving however not well enough for a bonus. Wake up Alan is a fraud.
You know.....and this is possible.... just imagine how different our opinions of him would be if he suddenly decided to to the right thing and announce that since avaya is doing so good under his watch, he was not going to accept the 4 million that is to be paid to him at the end of the year.
Where are these
- -- "Thousands of New Customers"
they ran around Dubai and India bragging about?
- 'Desoite the Noise" Avaya is THRIVING!
He Mastered The Turn Around! Just Ask the Publications that Corporate Communications PAYS to write the spin!
The fact that they flew over 4, maybe more, industry publications and phoney analysts to Dubai is a joke.
No more guaranteed payout of 30%, instead the new program is designed to get everyone a full payout!
Wasn't there a minimum payout?
Masawreck has been here for 5 QTR's now and each one has been a complete and utter disaster so time for him to be fired and for someone that can actually tell the truth, command loyalty, respect and instill positivity into the company to take his place !
wonder why he forgot to add...but none of this affects all of us executives...we will still get our giant bonuses