Considering a Business Restructure? Important Factors to Consider

Written by Technology Magazine on June 28th, 2017. Posted in Executive search consultant service, Human resources executive search, Outplacement consulting company

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Restructuring is a common practice that is used when a company is losing money or not producing as much in profits as it once was. The restructuring process involves going through every aspect and expense of the business and evaluating its purpose and need. This includes employee departments. In many cases, jobs will be cut and employees will be laid off or permanently let go. This process is extremely difficult and requires careful consideration and evaluation.

Develop a restructure plan

Before you begin to make cuts and lay off employees, it is important to develop a restructure plan. Establish exactly how much needs to be cut, and from what department