retrenchment
nounUK /rɪˈtrɛntʃmənt/
US /rɪˈtrɛntʃmənt/
A company cutting jobs or spending to save money.
The factory announced a retrenchment that will affect hundreds of workers.
RELATED WORDS
OTHER MEANINGS
2. The act of pulling back or withdrawing from a place or position.
The army's retrenchment left the town undefended.
3. A defensive fortification or trench built for protection.
Soldiers dug a retrenchment around the camp.
4. A reduction in personal spending or lifestyle.
After losing his job, he went through a period of retrenchment.