Meaning of “reorganization” in the English Dictionary

"reorganization" in Business English

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reorganizationnoun [ C or U ]

UK also reorganisation uk /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 reorganization
announce 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” from the Cambridge Business English Dictionary © Cambridge University Press)