Turnaround refers to the process of reversing the decline of a company that is performing poorly or is in financial distress. The goal of a turnaround is to improve the company’s financial and operational performance and return it to profitability. Turnaround strategies may involve cost-cutting measures, refinancing, restructuring debt, divestitures, or changes in management.
Restructuring refers to a broader set of changes made to a company’s organizational structure, operations, or business model to improve its overall efficiency and profitability. Restructuring may involve changes to the company’s products or services, its management structure, its workforce, or its technology.
The aim of restructuring is to make the company more competitive and better positioned to succeed in the long term. Turnaround and restructuring are often used together to describe a comprehensive set of actions taken to improve the financial and operational performance of a struggling company