Corporate Restructuring

William Lazonick

in The Oxford Handbook of Work and Organization

Published in print May 2006 | ISBN: 9780199299249
Published online September 2009 | | DOI:

Series: Oxford Handbooks in Business and Management C

Corporate Restructuring

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  • Business Strategy



At any point in time, the structure of the corporation is the result of an evolutionary process that reflects strategic investment decisions to serve particular markets, engage in particular activities, and produce in particular locations. Restructuring occurs when the corporation is not willing or able to utilize the capabilities and assets that are the legacy of past decisions. Under adverse economic conditions that cut across industrial sectors or firms within a sector, large numbers of companies in the same nation or region may engage in restructuring at the same time. Such restructuring can have a negative impact on national or regional employment, especially when restructuring involves large-scale downsizing or the closing or locational shift of a labor-intensive facility. Thus, restructuring can have profound impacts on the quality and quantity of jobs available in the economy.

Keywords: evolutionary process; strategic investment decisions; restructuring; regional employment; labor-intensive facility

Article.  10732 words. 

Subjects: Business and Management ; Business Strategy

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