Ans) Job restructuring is when an employer changes the nature and responsibilities of an employee’s position. With job restructuring, you might add similar tasks to an employee’s workload. Or, you might give higher-level responsibilities to an employee, even though they are in the same position.
- Job restructuring can be broken down into two categories: horizontal and vertical restructuring.
• Horizontal restructuring:
- Horizontal restructuring consists of adding new tasks to an
employee’s workload that fall into the same level as their current
responsibilities.
For example, you might have an employee who works in your accounting department start taking on more financial-related tasks along with their normal job responsibilities. These new tasks are on the same level as the employee’s other duties, but they fall into a different department or category.
• Vertical restructuring:
- Vertical restructuring is when you change up an employee’s
position to take on higher level responsibilities along with their
regular tasks.
For example, you might give your customer service employee customer service manager responsibilities, like balancing the cash register.
Reasons for job restructuring:
- Companies may use job restructuring for a number of reasons. You
might restructure jobs to reorganize your company, meet reasonable
accommodation requirements, and improve employee satisfaction.
Advantages of job restructuring:
Meeting equal employment opportunity requirements (EEO)
Aligning with company reorganization
Improving employee satisfaction and benefits.
Disadvantages of job restructuring:
Costs
Spending time making adjustments (e.g., spending time adjusting job
descriptions and duties)
Overlapping positions
Employees being uncertain about their responsibilities
Potential conflict in the workplace.
The impact of court consolidation and restructuring of management and administration.
Restructuring is an action taken by a company to significantly modify the financial and operational aspects of the company. A restructuring can comprise numerous costly activities, including termination or relocation of a business, a change in management structure and lay-offs. IFRS (IAS 37.72 specifically) require companies to recognize restructuring provisions (i.e., liability) and restructuring costs (i.e., expense) before the restructuring actually occurs, when “a detailed formal plan is adopted and has started being implemented, or announced to those affected”. Requirements:...
What is the impact of recording restructuring provisions on the company’s financial statement?
The annual report of Maytag Corporation contained the following excerpt: The Company announced the restructuring of its major appliance operations in an effort to strengthen its position in the industry and to deliver improved performance to both customers and shareholders. This included the consolidation of two separate organizational units into a single operation responsible for all activities associated with manufacture and distribution of the Company's brands of major appliances and the closing of a cooking products plant in Indianapolis, Indiana,...
The annual report of Maytag Corporation contained the following excerpt: The Company announced the restructuring of its major appliance operations in an effort to strengthen its position in the industry and to deliver improved performance to both customers and shareholders. This included the consolidation of two separate organizational units into a single operation responsible for all activities associated with manufacture and distribution of the Company's brands of major appliances and the closing of a cooking products plant in Indianapolis, Indiana,...
What impact does restructuring an organization have on the distribution of power for that organization?
Dow Chemical included the following information in footnotes to its 2016 Form 10-K: 2016 Restructuring On June 27, 2016, the Board of Directors of the Company approved a restructuring plan that incorporates actions related to the recent ownership restructure of Dow Corning Corporation ("Dow Corning"). These actions, aligned with Dow’s value growth and synergy targets, will result in a global workforce reduction of approximately 2,500 positions, with most of these positions resulting from synergies related to the Dow Corning transaction....
10 points Saved QUESTION 6 When faced with restructuring, the various sectors of an organization often have competing agendas that try to pull the restructuring effort in a particular direction. What tends to be the top priority of the technostructure agenda in a restructuring initiative? greater standardization greater collaboration greater centralization TA more autonomy wn 10 points Save Answer the QUESTION 7 the tu ending Hingth Joals de and wh: Organizations generally decide to initiate a restructuring effort in order...
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____________________ is other property received along with stock in a restructuring falling under § 368. If the shareholders receive the other property, it can be taxed as ____________________ and/or ____________________.