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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.
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The company has been struggling to get back on its feet after reporting a full-year loss of £19.3m in September, a result that forced the departure of chief executive Stevie Spring and a massive restructure of the loss-making US business.
Hoechst is in the latter stages of a massive restructuring to divest its chemicals business and focus on life sciences.
Xerox, in the midst of a massive restructuring, reported a profit of 15 cents per share, excluding restructuring charges and foreign currency loss.
Appliance maker Whirlpool put itself in the deep freeze after it announced a massive restructuring that may eliminate 10% of the company's workforce.
Lucent rose 3.3% after the troubled telecommunications equipment maker announced plans to cut 10,000 jobs as part of a massive restructuring program.
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