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It removed its United States head of sales in June as it restructured its business in its biggest market.
The company paid the plant's 150 workers half their salaries as it restructured its finances before reopening, its managing director, Sanjeev Gupta, said.
And after AOL agreed to buy Time Warner in 2000, it restructured its European operations, forcing it eventually to buy out its partners, paying $6.75 billion in cash to Bertelsmann and $750 million in preferred stock to Vivendi Universal.
It restructured its business in March, appointing two co-CEOs for its mobile business — one focused on China, where it has suffered particularly badly, and another for the rest of the world.
Argentina, standing at the forefront of these efforts, has been fending off "vulture funds" ever since it restructured its debt.
"Portugal would save 3 billion euros a year if it restructured its debt," said Pedro Lains, an economic historian and a blogger at the University of Lisbon.
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The company said it had hired J. P. Morgan Chase to help it restructure its debts.
Manpower recently took a charge as it restructures its U.K. operations.
J.C. Penney on Friday said it would cut 2,000 jobs and take about $40 million in charges in 2003, as it restructures its catalog business.
Textiler Burlington Industries said it will cut 4,000 jobs in the U.S. and Mexico, as it restructures its apparel fabrics group.
During the bankruptcy process, Relativity will continue to operate as it restructures its finances, the company said Thursday.
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