Few businesses crash and burn without putting up a fight first.
Many try to turn the business around by cutting jobs, buying companies, selling off or closing unprofitable divisions or even splitting the company up. In an increasingly competitive telecoms market, BT plans to restructure its business - but as workers brace themselves for change, BBC News Online asks why companies restructure and how it will help the telecoms giant. BT's decision to float Yellow Pages and split itself into separate divisions has been widely termed a restructuring. Restructuring is a catch-all term, used by companies in trouble who need to change or risk losing business as well as successful ones who want to keep their edge. Usually, what prompts companies to restructure is a falling share price or a share price that they feel does not fully reflect the company's value, says Shaun O Callaghan, a partner with KPMG's restructuring group.