Final answer:
The announcement by Levi Strauss to lay off 12 percent of its workforce due to declining sales is an example of restructuring, which is a response to improve business efficiency and competitiveness.
Step-by-step explanation:
Levi Strauss announced that due to declining global sales, it would lay off 12 percent of its workforce. This is an example of C. restructuring. Restructuring in a business context often involves reorganizing the structure of the company, which can include layoffs, to reduce costs and improve efficiency. This move is typically a response to financial challenges faced by a business, such as decreasing sales or profits, and aims to make the company more competitive and sustainable in the long term. It can manifest in various actions like closing down factories, consolidating departments, or switching to different operational strategies.
Levi Strauss' announcement of laying off 12 percent of its workforce due to declining global sales is an example of restructuring. When a company undergoes restructuring, it typically means making changes to its operations, organization, or financial structure in order to improve efficiency or cut costs. In this case, the layoffs were a measure taken by Levi Strauss to reduce expenses and adapt to the changing market conditions.