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The company said on Thursday that due to challenging conditions in key markets, was undertaking a restructuring review, particularly in its process technology division, which sells catalysts and technologies to the oil and petrochemical sector.
By dismissing Mr. Asahara as its leader and undertaking a restructuring, the group appears to hoping to stave off a move by the Government to restrict its activities and finances.
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Several analysts said they expected the company to undertake a restructuring effort in the next year.
Since that leveraged buyout was completed last year, the company has undertaken a restructuring program to cope with the billions of dollars in debt it incurred in the deal.
The pharmaceutical company Merck announced on Tuesday that it would lay off 8,500 employees, cut $2.5 billion in costs over the next two years and undertake a restructuring of its troubled research and development unit, which has suffered several major setbacks in recent years.
"We undertook a restructuring of the business, removing approximately 50 roles locally in Malaysia last week, which will be replaced by 200 new roles over the next 9 months.
In addition, he undertook a restructuring of the food giant, cutting thousands of jobs and shutting more than a dozen plants in an attempt to save some $1.2 billion.
Chief executive Robert Eckert Robert Eckert, formerly at the helm of Kraft Foods, was appointed in mid-May 2000 and soon undertook a restructuring program.
Lucky for Cote, the Morris Township, N.J.-based diversified manufacturer has undertaken a restructuring program that should allow him to get straight to work on improving performance.
As a result of a leadership review during 2014, Sheffield Hallam University (SHU) undertook a restructuring of Learning and Information Services (library) and Student Support Services.
We reported about AOL undertaking a site restructuring earlier this month.
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