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Definition: Restructuring is a process of organizational change whereby major changes are applied to the organizational structure, legal structure, capital structure, or ownership of the firm, often in the form of:
- Selling parts of the organization or its assets.
- Closure of non-profitable divisions.
- Comprehensively reorganizing the business, such as combining business units.
- Changing the top management (turnaround management).
- Rearranging the finance of a company (recapitalization).