PHILADELPHIA, PA – May 22, 2013 – Alteva, Inc. (“Alteva” or the “Company”) (NYSE MKT: ALTV), today announced a workforce reduction in its Warwick, NY location.
A 20% workforce reduction of staff reporting out of the Warwick, NY facility will take place this week and will affect both union and non-union workers. The targeted reductions and other restructuring activities are being initiated to provide efficiencies and realign resources.
Alteva’s President and CEO David Cuthbert said, “While it is a very difficult time for all of our employees, we believe that this reduction in staff is necessary as we further integrate our resources and align the business. We sincerely appreciate the many years of great service our departing employees have provided and we are grateful for their contributions to Alteva’s success. These actions are part of our ongoing efforts to position the Company for growth and to establish Alteva as a leading Unified Communications as a Service (UCaaS) provider.”
Alteva, Inc. (NYSE MKT: ALTV) (previously known as Warwick Valley Telephone Company or WVT Communications Group) is a premier provider of hosted Unified Communications as a Service (UCaaS) that significantly enhances business productivity and efficiency. Alteva’s UCaaS solution integrates and optimizes best-in-class cloud-based technologies and business applications to deliver a comprehensive voice, video and collaboration service for the office and mobile workforce. Alteva is committed to delivering meaningful value to its customers through a consistent, high quality and unified user experience across multiple devices, platforms and operating systems. These attributes have positioned Alteva as a leading hosted communications provider and the partner of choice for a growing number of business customers nationwide and internationally. To learn more about Alteva, please visit www.alteva.com. You can also follow Alteva on Twitter @AltevaInc or Linkedin.
Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements, without limitation, regarding expectations, beliefs, intentions, growth, profitability, or strategies regarding the future. Alteva intends that such forward-looking statements be subject to the safe-harbor provided by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Alteva’s actual results, performance or achievements or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following: expectations of future profitability; general economic and business conditions, both nationally and in the geographic regions in which Alteva operates; industry capacity; demographic changes; technological changes and changes in consumer demand; the successful integration of Alteva’s acquired businesses; existing governmental regulations and changes in, or the failure to comply with, governmental regulations; legislative proposals relating to the businesses in which Alteva operates; reduction in cash distributions from the Orange County-Poughkeepsie Limited Partnership; competition; or the loss of any significant ability to attract and retain qualified personnel. Given these uncertainties, current and prospective investors should be cautioned in their reliance on such forward-looking statements. Except as required by law, Alteva disclaims any obligation to update any such factors or to publicly announce the results of any revision to any of the forward-looking statements contained herein to reflect future events or developments. A more comprehensive discussion of risks, uncertainties and forward-looking statements may be seen in Alteva’s Annual Report on Form 10-K and other periodic filings with the U.S. Securities and Exchange Commission.