Definition of musical chairs

• a childs game in which N players march to music around N-1 chairs; when the music abruptly stops the players scramble to sit and the player who does not find a chair is eliminated; then a chair is removed and the march resumes until only the winner is seated
• a rearrangement that has no practical effect or significance; "the company is looking for stability after years of musical chairs with directors"; "shareholders dont want the company playing musical chairs with their investment"