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Restructuring refers to a program initiated by management aimed at significantly altering the scope of a business or its operational methods. Examples of restructuring include selling retail locations, such as closing all stores in Quebec, or shutting down a facility, like the GM plant in Oshawa. It can also involve relocating operations, as seen when Gillette moved its Quebec operations to the United States. Additionally, restructuring may involve reorganizing the company's hierarchy, such as reducing multiple management layers to streamline operations.