CWA Will Play an Active Role in Avaya’s Bankruptcy Proceedings to Protect the Interests of Its Members
PRESS RELEASE
Five years after emerging from its previous bankruptcy, Avaya Holdings Corporation filed for Chapter 11 bankruptcy and secured financing of $780 million as it restructures its business to reduce its total debt. The company expects to complete this process in 60 to 90 days and has made certain assurances including keeping the business intact by not selling or splitting any of its parts; not making any changes to employees’ pay or benefits; as well as a commitment to maintaining the pension and benefits for retirees. The Communications Workers of America (CWA), which represents close to 300 active members at Avaya and thousands of retirees, plans to take an active role in the bankruptcy process to protect the interests of workers and retirees.
“During the last restructuring in 2017, CWA's quick intervention was key to protecting our members. Similar to the previous process, we are seeking a seat on the Unsecured Creditors Committee to ensure that the Company implements the provisions included in its restructuring plan and lives up to its commitment to workers. This is a complicated process with lots of moving parts but we are determined to use all of our available resources to actively play a part in it and fight for our members’ interests,” said CWA Telecommunications and Technologies Vice President Lisa Bolton.
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About CWA: The Communications Workers of America represents working people in telecommunications, customer service, media, airlines, health care, public service and education, manufacturing, tech, and other fields.
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