The single biggest mistake I see during restructuring is leaders who treat communication as a risk to manage rather than a tool to lead with. People do not need to know everything. But they can tell immediately when they are being managed, when the language is careful, when the answers are rehearsed. And the moment they sense that, they stop trusting anything you say.

Start with honesty and stay there. If you do not know something, say you do not know. If a decision has not been made yet, say that too. What you cannot do is make promises you are not certain you can keep. This is the last of it are the most dangerous words in a restructure. I have seen leadership say it sincerely and then face a second round six months later. The damage to trust from that second cut is not double the first. It is ten times worse. If you are going to cut, cut once and cut deep. A business that restructures twice in a year rarely recovers its culture in the short term.

Communicate more than feels comfortable. Company meetings, open Q&A sessions, anonymous surveys if people are not yet ready to speak openly. And when the survey results come back difficult, do not file them away. Talk about them. Acknowledge what people said. You do not have to have all the answers but you have to show you heard them.
There will be things you cannot share. Decisions that have to be made in the background before they can be announced. Legal constraints, individual situations, commercial sensitivities. That is the reality of running a business and your people are adults. You do not need to apologise for that. What you do need to do is be honest about the fact that you cannot share everything right now, and commit to telling them what you can, when you can. People can handle hard news. What they cannot handle is finding out you knew something and said nothing.

Talk about the people who are still there. This is the group that gets forgotten in almost every restructure I have seen. They are not relieved. They are unsettled, guilty in some cases, and watching very carefully to see how the organisation treats the people who left. Acknowledge it directly. Tell them you know it was hard. Tell them the business lost good people and that you are not pretending otherwise. Explain why it happened, in real terms. We lost a million euro. The market changed. The role no longer existed. Grown up reasons for grown up people. They will respect you more for it than for any amount of careful messaging.

Do not delude yourself that people will be grateful they kept their jobs. They are more than likely angry that they were not told sooner, that colleagues they valued are gone, that the future feels uncertain. That is a reasonable response. These decisions were made to protect the business and you have to stand by them. Own them. Do not whisper that they were bad decisions or distance yourself from the leadership that made them. If you were in the room, you were part of it. Act like it.
Morale after a restructure is not rebuilt with a speech. It is rebuilt over time, in the small moments, by leaders who show up honestly and consistently. That is the only way back.