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| Corporate Restructuring |
| A fundamental change in direction and strategy for an organization that affects the way in which the organization is structured. Corporate restructuring may involve increasing or decreasing the layers of personnel between the top and the bottom of an organization, or reassigning roles and responsibilities. Invariably, corporate restructuring has come to mean reorganizing after a period of unsatisfactory performance and poor results, and is often manifested in the divestment or closure of parts of the business and the outplacement, or shedding, of personnel. In this case, corporate restructuring is used as a euphemism for delivering, rationalization, downsizing, or rightsizing. |
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