Turnaround advisor, Sam Smith, recommends hiring an interim team to replace existing top management while they search for new top management. This is called a retrenchment workout model.

Question

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A retrenchment workout model typically involves reducing the scale of a company's operations or restructuring its finances to improve efficiency and save costs, not necessarily replacing top management with an interim team.

Turnaround Advisor, Sam Smith, Recommends Hiring an Interim Team to Replace