1. reducing costs or spending, especially by eliminating jobs or cutting expenses
Usage: present participle of retrench
2. withdrawing or pulling back from a position or commitment
Usage: present participle of retrench

Examples

• The company is retrenching by laying off 200 employees.
• Due to budget constraints, the university is retrenching several programs.
• After the failed expansion, the business began retrenching to core operations.
• The military is retrenching from its forward positions.
• She found herself retrenching from her earlier bold statements.
• The organization is retrenching its international presence to focus domestically.