Avaya Restructuring Approved

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Avaya Restructuring Approved

Postby remberger » Wed Mar 22, 2023 2:34 pm

The following was published after today's court hearing. The bankruptcy court approved Avaya's plan for restructuring.

Bob Emberger

Retiree & Former Employee Letter

March 22, 2023


Dear Avaya Retirees and Former Team Members,


I’m pleased to share that we have completed a major milestone in Avaya’s Financial Restructuring. Earlier today, the court confirmed our prepackaged restructuring plan on an accelerated basis. We are excited to move forward having achieved all of our goals for this process.

In terms of next steps, we expect to implement the restructuring plan and formally emerge from this process in the coming weeks.

As we communicated last month:
• This process is not expected to have any impact on your benefits at this time.
• No changes to your monthly pension benefits or your current retiree health and life insurance benefits are being proposed now as part of this process.
• Assets in your 401(k) account are not impacted by this process.
• At this time, other post-employment benefits are expected to continue without change during this process.

You can find additional information, including FAQs, on our restructuring website at
www.AvayaRestructuringInfo.com.

Thank you for your contributions to and continued support of Avaya.

Best,


Alan Masarek
Chief Executive Officer
remberger
 
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