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Retrenchment

usgb/rɪˈtrentʃmənt/Volume
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LampPro Tip 1/3
Economic StressPlay
Use 'retrenchment' when a business cuts costs due to financial problems. SlideSmall businesses often face retrenchment during recessions.
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Employee ImpactPlay
Retrenchment might imply laying off employees. SlideDue to retrenchment, the factory workers were worried about their jobs.
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Last ResortPlay
Retrenchment is often used as a last option to save money. SlideOnly after all other measures failed, the firm considered retrenchment.