In the face of growing global competition, the company's current policies are being reconsidered.

reconsidered 是动词 reconsider 的过去分词形式，由前缀 re-（重新）和词根 consider（考虑）组成。are being reconsidered 是现在进行时的被动语态，表示"正在被重新审视/考虑"，强调政策正在被管理层进行重新评估这一持续过程。