Restructuring:

• Restructuring refers to the process of reorganizing a's structure,

operations, or finances to improve its efficiency, profitability, or
competitiveness. This can involve changes in various aspects of the
business, such as management, staffing, processes, and financial
strategies. Companies may undertake restructuring for several
reasons, including adapting to market changes, addressing financial
challenges, improving operational efficiency, or responding to new
regulations.
Reasons for restructuring:

• Adapting to market changes

• Streamlining operations:

• Enhancing competitiveness

• Facilitating growth and innovation

Benefits of Restructuring:
• A. Increased efficiency and productivity:

• Elimination of duplication
• Streamlined decision-making

B. Cost reduction
• Resource optimization
• Operational efficienc

• C. Enhanced agility and adaptability:

• Faster response to market changes

• Flexibility and scalability:.

• D. Improved employee morale and engagement:

• Clarity of roles and responsibilities

• Opportunities for growth

The International Labour Organization (ILO)

• The International Labour Organization (ILO) is a specialized agency of

the United Nations dedicated to promoting social justice and decent
work globally. Founded in 1919, the ILO brings together governments,
employers, and workers' representatives to address labor issues and
improve working conditions.
• Setting International Labor Standards
• Promoting Social Dialogue
• Providing Technical Assistance
• Conducting Research and Analysis
• Combating Forced Labor and Child Labor
• Promoting Decent Work