Meaning of “restructuring” in the English Dictionary

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"restructuring" in Business English

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restructuringnoun [ C or U ]

uk /ˌriːˈstrʌktʃərɪŋ/ us

MANAGEMENT, WORKPLACE the act of organizing a company, business, or system in a new way to make it operate more effectively:

a major/radical restructuring

FINANCE the act of arranging to make debt payments in a different way or at a later time than was originally agreed:

Bankruptcy beckons if the company fails to agree a restructuring of its debts.
Thanks to a financial restructuring and new management, it has returned to profit.

(Definition of “restructuring” from the Cambridge Business English Dictionary © Cambridge University Press)