Huge over-capacity and large losses forced the government to undertake a massive restructuring of state-owned firms.
It has also shunted aside plans for a massive restructuring of the 1.3m-strong public-sector workforce.
Neither episode triggered serious unrest, despite the blow to incomes.In the late 1990s, even amid the Asian financial crisis of 1997-98, China resolutely carried out a massive restructuring of its state-owned enterprises (SOEs).
With sometimes exceptions for Paul and Jon Huntsman, all of the Republican candidates have taken positions calling for a massive restructuring of the federal budget, one that would decimate the welfare state and give huge tax breaks to the rich.
The prospect of having to work for a company such as TNT, which has already embarked on a massive restructuring of its workforce, involving flexible contracts and franchises, was the subject of much worried speculation in the smoking shed.
It would require a massive restructuring of the nation's health care delivery and finance systems, and would probably erode the availability and quality of health care that the poor currently receive from Medicaid.
Peter Negline, an analyst at J.P. Morgan in Hong Kong, expects that this new competitive edge will lead the two firms to unwind the remains of their relationship within two years.Adding urgency to this is a massive restructuring of the mainland's airline industry on October 11th, when Beijing merged ten state-run carriers into three national champions.
Li Ka-shing, Hong Kong's richest person, kicked off 2015 by announcing a massive restructuring of his far-reaching empire.
After no acceptable bid emerged, the company undertook a massive restructuring of the unit, which makes Day-Timer organizers and Swingline staplers.
Long's is now a Barnes & Noble, its handsome neon sign taken down during a massive restructuring of OSU's student core.
