reorganization
noun [ C or U ]
( UK also reorganisation) uk/riːˌɔːɡənaɪˈzeɪʃən/ us/riːˌɔrɡənəˈzeɪʃən/ HR, MANAGEMENT, WORKPLACE
a change in the way that something such as a company is organized, in order to improve it:
corporate reorganization
broad/major/massive reorganization
a radical/sweeping reorganization
announce a reorganization The company may announce a reorganization of management before the end of this year.
LAW, FINANCE, WORKPLACE
in the US, a change in the way a company and its finances are organized after it has gone bankrupt:
reorganization costs
a plan of reorganization/reorganization plan
The New York-based investment firm was a member of the company's creditors committee during its recent bankruptcy reorganization.