restructuring
noun [ C or U ]
uk/ˌriːˈstrʌktʃərɪŋ/ us MANAGEMENT, WORKPLACE
the act of organizing a company, business, or system in a new way to make it operate more effectively:
a major/radical restructuring
corporate/industrial/organizational restructuring
FINANCE
the act of arranging to make debt payments in a different way or at a later time than was originally agreed:
Bankruptcy beckons if the company fails to agree a restructuring of its debts.
Thanks to a financial restructuring and new management, it has returned to profit.
See also
debt restructuring