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Manufacturing companies often refer to their manufacturing plant transfer, consolidation and closure activities as physical restructuring. This can be done by moving production or services overseas, a process known as offshoring. Such projects began in the United States during the 1960s and by 2009 showed little sign of having ended.[ attribution needed ] Such corporate behavior has taken its toll on the manufacturing base and continues to do so.[ citation needed ]
Chrysler planned a phase of physical restructuring with the sale of its "good assets" to Fiat in 2009. [1] Pfizer has executed numerous physical restructuring programs in the years prior to 2009, as a direct result of changes in the drug pipeline and an outdated and inefficient manufacturing and distribution network.[ citation needed ] General Motors announced a large wave of physical restructuring associated with their June 2009 bankruptcy filing.[ attribution needed ]
While the sell-off of assets is necessary in cases of bankruptcy, the costs associated with physical restructuring need to be managed by experts.[ citation needed ] Firms able to advise and oversee a program of physical restructuring include; PA Consulting Group, Boston Consulting Group, Bestshore Partners, AlixPartners and BOOZ and Company.
