Thread regarding Avaya layoffs

Here is the an excerpt from the filing:

"1. By this motion, the Debtors seek entry of an order, substantially in the form

attached hereto as Exhibit A (the “Order”): (a) extending the Debtors’ exclusive right to file a

chapter 11 plan by approximately 120 days through and including September 16, 2017 (the

“Filing Exclusivity Period”), and to solicit votes thereon by approximately 120 days through and

including November 15, 2017 (the “Soliciting Exclusivity Period,” and together with the Filing

Exclusivity Period, the “Exclusivity Periods”), without prejudice to the Debtors’ right to seek

further extensions to the Exclusivity Periods; and (b) granting related relief. "

What this says is that Avaya wants an additional 3 months to file the restructuring plan and ANOTHER 3 months to try to get the creditors on board. What? 6 more months of this hell? If you read the entire document, it is apparent that they've attempted to get the creditors on board, but it's not working. Therefore they're seeking to extend their "exclusive right" to file a plan. This means that they're asking the court to not allow the creditors to force the into liquidation. They're clearly desperately trying to keep Avaya together, but the creditors aren't on having it. They want out. Now. Larger partners and customers have lawyers and you can bet they're in the loop with respect to these filings. They're interpreting all of this in terms of their own businesses. Anyone with any commercial experience will certainly see the handwriting on the wall. Meanwhile, we keep getting the corporate BS every couple of weeks that it's business as usual and everything is going to be fine. By the way, did you realize that Avaya is spending over $5 MILLION per MONTH on all the advisors, accountants, etc. who are involved in the bankruptcy? And yet, the EC still wants bonuses. Incredible.

Exactly as predicted. Avaya has been unable to obtain agreement with creditors on a restructuring plan which is critical to exiting the bankruptcy process intact. The big creditors simply don't want to own Avaya in the proposed debt for equity swap. They just want to minimize their losses and get out. At this point, even the loyal partners will start moving away from Avaya and attracting new customers will become increasingly more difficult. Only existing customers with a significant investment in Avaya solutions will continue to buy - but only with guarantees that the products will continue to be supported. Think about it - would you as a partner continue to push products from a company that is almost certainly going to be liquidated? Would you as a customer invest in mission critical systems from such a company? Of course you wouldn't. It would be irresponsible to do so. If you look at other companies who have gone into bankruptcy, you will find that the longer it lingers on, the higher the probability that it disintegrates. Avaya will ultimately be sold off in pieces and I suspect that at some point very soon, the creditors will push the court to force liquidation. Thankfully the networking people will survive in some form. I only wish that I had a seat in that lifeboat, instead of remaining on this sinking Avaya ship.

"The previous poster must be a funny guy...

These execs aint no more talented than a porter in a 2-star hotel."

it's a little thing called sarcasm. ever heard of it?

The previous poster must be a funny guy...

These execs aint no more talented than a porter in a 2-star hotel.

Our beloved leader KK will send out an update soon along with his recommended book list.

He has done splendidly is keeping the morale high with his Top of Mind stories!

He deserves more than a token thank you. The judge needs to approve the exec bonus plan urgently to keep our talented execs around to lead the company through a challenging time.