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This is a great question. Restructuring takes place all the time. Perhaps the best example of this is when companies merge. In the merger there is restructuring on many levels. Let me give you an example. In 2004 J.P. Morgan Chase bought out Bank One. In this deal, J.P. Morgan Chase acquired many new elements. The chief reason for this was due to the fact that J.P. Morgan Chase acquired in the deal the CEO of Bank One, Jamie Dimon. As you can imagine, there was a lot of restructuring.
First, Bank One was mostly a Midwest bank with a midwest culture. So, the culture was restructed in some way. We can say that the bank became a bit more austreme in terms of perquisites.
Second, a number of executives from Chicago came the New York to take over positions of leadership. In light of this, we can say that there was restructuring on an executive level.
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