Reorganization of a business, usually including dismissal of many employees.
 ► “The securities firm is trying to recover from a $3 million embezzlement scheme that resulted in the 1994 dismissal of two managers accused of stealing the money. It also prompted a house-cleaning at Gruntal which culminated late last year with the resignation of chairman, Howard Silverman.” (Wall Street Journal, Feb. 7, 1996, p. B4)

American business jargon. 2014.

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