Literal meaning: to rearrange the structure of something.

Real meaning: to sack lots of workers.

A euphemism used by bosses to cover up the fact that they're planning to sack workers or to attack workers in other ways (e.g. worsen pay and conditions).
Boss: We're planning a major restructuring of this factory.

Union rep: erm - what's that?

Me: It means they're going to sack loads of people, you idiot! Quick, do something!
by Andy April 27, 2004
usage: verb; means re-organziational change in a corporate setting which allows for legal firing of employees at will while simultaneously stripping them of their rights to sue for unlawful termination.
"How's work?"

"I don't know, the office is practically empty now, it's all this restructuring I guess....."