AVYA - AVYA STOCK NEWS

Avaya Holdings Corp. (NYSE: AVYA) announced a major financial restructuring plan supported by over 90% of its secured lenders. The plan aims to eliminate more than 75% of its total debt, reducing it from approximately $3.4 billion to about $800 million. Additionally, Avaya secured approximately $780 million in financing to enhance liquidity and speed up investment in its cloud communications portfolio. The restructuring process, initiated through Chapter 11, is expected to be completed in 60 to 90 days, allowing operations to continue without interruption for employees, vendors, and customers.

Avaya (NYSE: AVYA) announced that John Lindsley, VP of North America Channel Sales, has been named to CRN's 2023 Channel Chiefs list. This prestigious recognition highlights top IT channel executives who show expertise and innovation in leadership. Lindsley oversees Avaya's channel strategy and sales team, focusing on enhancing partnerships with technology solution distributors and resellers. Avaya's global partner programs serve over 90% of Fortune 100 companies, enabling clients to transition to cloud technology. The 2023 Channel Chiefs list reflects leaders in the IT channel industry, emphasizing the importance of strong partnerships for future growth.

Avaya (NYSE:AVYA) has been recognized as a Leader in Aragon Research's inaugural report on Conversational AI in the Intelligent Contact Center (ICC) 2023. The report highlights Avaya's comprehensive solution that integrates Unified Communication, Contact Center, and Workstream Collaboration technologies. Avaya’s conversational AI capabilities enhance customer experiences through intelligent virtual agents that support self-service and real-time assistance. Key features include voice-to-text transcription, sentiment analysis, and seamless omnichannel support. This recognition positions Avaya as a strategic player in meeting the growing demand for enhanced customer experience in contact centers.

Avaya Holdings Corp. (NYSE: AVYA) announced on December 29, 2022, that it is not in compliance with the NYSE's continued listing standards due to its common stock trading below $1.00 for 30 consecutive trading days. This notice does not lead to immediate delisting; Avaya has six months to rectify this deficiency and regain compliance. The company plans to notify the NYSE of its intent to cure this issue while continuing to trade on the exchange during this period.

Avaya Holdings Corp. (NYSE: AVYA) disclosed key business updates regarding ongoing discussions with financial stakeholders aimed at strengthening its balance sheet. CEO Alan Masarek emphasized enhancing capital structure and increasing liquidity to position the company for long-term success. Jill Frizzley has been appointed to the Board of Directors, bringing expertise in corporate governance and financial restructuring. This appointment aligns with the company's strategic partnership with RingCentral. For more details, refer to the Current Report on Form 8-K filed with the SEC.

Avaya has been recognized as a Leader in the Aragon Research Globe™ for Intelligent Contact Centers (ICC) for the fourth consecutive year. The report highlights the Avaya Experience Platform™, which combines AI and cloud solutions to enhance customer interactions. Key features include seamless connectivity across various touchpoints, personalized experiences, and advanced self-service opportunities. According to Jim Lundy, CEO of Aragon Research, the platform meets evolving customer expectations by providing innovative solutions across private, public, and hybrid cloud environments.

Avaya Holdings Corp. (NYSE: AVYA) announced the retirement of Kieran McGrath, Executive Vice President and Chief Financial Officer, effective November 9, 2022. Becky Roof, Managing Director at AlixPartners, will serve as interim CFO, with McGrath advising until December 1, 2022. Shefali Shah will assume additional responsibilities related to strategic initiatives under Alan Masarek, the CEO. The company is actively seeking a permanent CFO.

Avaya (NYSE: AVYA) has been recognized as a Leader in The Aragon Research Globe™ for Unified Communications and Collaboration (UC&C) for 2022. This designation is based on the company's strategic completeness and performance in enhancing customer and employee experiences through its all-in-one UC&C solutions. With offerings like Avaya Spaces and Avaya Cloud Office™, Avaya aims to meet evolving business communication needs, particularly in the post-COVID era. The report emphasized the growing demand for integrated UC&C solutions that can seamlessly operate with other enterprise applications.

Avaya (NYSE: AVYA) released its annual Corporate Responsibility Report, showcasing its environmental, social, and governance (ESG) initiatives aimed at addressing global challenges like climate change and equality. The company reduced emissions by 1.2% from FY2020 to FY2021 and is committed to setting company-wide emissions reduction targets. Highlights include efforts in education, diversity, and community support, raising over $140,000 for Save the Children. Avaya emphasizes responsible corporate practices and sustainability to foster positive impacts for employees, customers, and communities.