Avaya plans job reductions to hit $250M cost-cut goal

seekingalpha2022-09-07

Avaya Holdings (NYSE:AVYA) is undertaking a number of cost-reduction steps, including job cuts. In an SEC filing, Avaya (AVYA) said it's authorized a reduction in force that will help add to a ...

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SentinelMax
2022-09-10
SentinelMax
Good Move, looking at the oast chart saw the results were horrible, right time to cut and overhaul the company to achieve for better performance and results in future.

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In an SEC filing, Avaya (AVYA) said it's authorized a reduction in force that will help add to a ...</p>\n\n<a href=\"https://seekingalpha.com/news/3880628-avaya-plans-job-reductions-to-hit-250m-cost-cut-goal\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4023","symbol_name":"应用软件","start_time":0,"source_url":"https://seekingalpha.com/news/3880628-avaya-plans-job-reductions-to-hit-250m-cost-cut-goal","article_id":"2265017678","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2265017678","pubTimestamp":1662500999,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Avaya Holdings (NYSE:AVYA) is undertaking a number of cost-reduction steps, including job cuts. In a","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4023":"应用软件"},"translate_title":"Avaya计划裁员以实现2.5亿美元的成本削减目标","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AVYA":1},"content_text":"Avaya Holdings (NYSE:AVYA) is undertaking a number of cost-reduction steps, including job cuts. In an SEC filing, Avaya (AVYA) said it's authorized a reduction in force that will help add to a combined $250M in annual cost reductions, which will allow the company to hit the higher end of its July 28 goals for $225M-$250M in cost cuts.  The force reduction \"better aligns the size of Avaya’s workforce with its operational strategy and cost structure,\" the company said. Avaya expects to incur $23M-$26M in pretax restructuring charges, all of which it expects in cash-based expenditures, and substantially all of which are tied to severance and termination benefits. It said it expects to recognize substantially all of the charges in the fourth fiscal quarter. Avaya shares pulled off a relief rally Tuesday, coming back from the long weekend with a 24% gain on volume that doubled its usual daily average. Avaya is down 83% in six months, but it's more than doubled over the past month. 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