Question

A company drastically reduced the number of its employees at various levels by eliminating product teams, shrinking departments, and reducing levels in the hierarchy. what is such a change called?

Answer 1

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Answer 2

A company drastically reduced the number of its employees at various levels by eliminating product teams, shrinking departments, and reducing levels in the hierarchy. This is a change called restructuring.

What is restructuring?

The act of redesigning a company's legal, ownership, operational, or other structures with the goal of increasing profitability is known in corporate management as restructuring. Additionally, restructuring is necessary for our democracy to attain better governance. Elections on a regular basis have not always resulted in better administration. Restructuring in response to financial hardship reduces the options available and makes avoiding bankruptcy more challenging. Restructuring is a term used to describe situations where businesses decide to change their operating procedures, organizational structure, or financial spending.

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