1. to reduce the size of something, especially a company or workforce
Usage: business context
2. to move to a smaller home or living space

Examples

• The company downsizes its workforce during economic downturns.
• Management downsizes the department to cut costs.
• She downsizes to a smaller apartment after retirement.
• The corporation downsizes its operations in several states.
• He downsizes his home when the children move out.
• The factory downsizes production due to decreased demand.