corporate restructuring

noun

1. a change in the business strategy of an organization resulting in diversification, closing parts of the business, etc, to increase its long-term profitability

Example Sentences

The layoffs, which the company described as part of a corporate restructuring, come as major publishing companies have been buffeted by sluggish print sales and rising supply chain costs, and have struggled to find new ways to get books in front of customers who have migrated online.

From New York Times

The bankruptcy petition is signed by CEO Jonathan Tibus, a corporate restructuring specialist who took the top post at Red Lobster in March.

From Seattle Times

The gusher of philanthropic money is the product of an unconventional corporate restructuring in 2022, when Patagonia’s founder, Yvon Chouinard, and his family relinquished ownership of the company and declared that all its future profits would be used to protect the environment and combat climate change.

From New York Times

An affiliate of a corporate restructuring firm bought it in 2017, then switched out its management and character several times.

From New York Times

It then began work on a corporate restructuring.

From Reuters