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English definition of “reorganization”

reorganization

noun [C or U] ( UK also reorganisation)     /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 reorganizationannounce 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.
(Definition of reorganization noun from the Cambridge Business English Dictionary © Cambridge University Press)
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