Cloud technology firm Avaya, which until last month was headquartered in Durham, has won court approval for its reorganization plan and will emerge from bankruptcy as a private company with substantially less debt as well as having more than $650 million on its balance sheet.
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Avaya, which moved its headquarters to Durham, has filed for Chapter 11 bankruptcy after majority of its lenders agreed to a restructuring plan.
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Avaya was recently notified its stock doesn’t mean minimum price listing criteria by the NYSE. Now some analysts are raising questions about the company’s future.
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Avaya’s CEO Alan Masarek said the company remains “pleased” by ongoing discussions with its financial stakeholders months after warning company may not survive.
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Amid cost cuts, layoffs and management changes, networking tech firm Avaya on Monday said its chief financial officer is retiring.
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More tech layoffs are sweeping across the Triangle, even with more job openings than unemployed workers. Here’s the latest WRAL TechWire Layoff Watch.
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Technology company Avaya, which moved corporate headquarters to Durham from the Silicon Valley region two years ago and recently went through a management shakeup, is now making layoffs.
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DURHAM – Shares in technology and cloud services firm Avaya plunged early Tuesday after the Durham-based firm warned it may not survive a plunge in revenue and operating losses while delaying a full publication of its quarterly financial report. The company also is setting aside $11 million to cover...
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Jim Chirico, longtime CEO of cloud technology firm Avaya, is to be “removed” from his position as of Aug. 1 and also will resign his board seat, the company says. The news sent the company’s stock plunging.
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