downsize
verb [ I or T ]
HR, MANAGEMENT uk/ˈdaʊnˌsaɪz/ usto make a company or organization smaller by reducing the number of people working for it:
The plight of the economy is forcing businesses to downsize.
to downsize your workforce/company
Compare
right-size
downsizing
noun [ U ] /ˈdaʊnsaɪzɪŋ/
a trend for corporate downsizing
Compare
right-sizing