noun
- reductions in spending, especially by a company or government to cut costs
- the dismissal of employees to reduce costs
Usage: business; economics
Usage: business
Examples
- The company announced major retrenchments to survive the economic downturn.
- Government retrenchments affected public services across the country.
- The factory’s retrenchments left hundreds of workers unemployed.
- Budget retrenchments forced the university to close several programs.
- Corporate retrenchments included cuts to research and development.
- The recession led to widespread retrenchments in the manufacturing sector.