1. to reduce costs or spending, especially by eliminating jobs or cutting expenses
Usage: business; economics
2. to establish a defensive position by digging trenches or building fortifications
Usage: military; formal

Examples

• The company had to retrench during the economic downturn.
• Management decided to retrench by laying off fifty employees.
• The family retrenched their spending after losing income.
• The army retrenched behind the hill to avoid enemy fire.
• After the failed offensive, the troops retrenched and waited for reinforcements.
• The business retrenched its operations to focus on core products.
• During the recession, many firms retrenched their workforce.