downsizing
/ˈdaʊnzˌaɪzɪŋ/ · down siz·ing
verb
- To reduce in size or number. After the children left home, Joe and Edna decided to downsize to a smaller house.
- To reduce the workforce of. The company downsized the division by offering early-retirement packages.
- To terminate the employment of. Joe got downsized and had to find a new job.
noun
- An act in which a company downsizes or is downsized. He lost his job in the last downsizing.
- Miniaturization. The company's downsizing led to the development of smaller, more efficient products.
- Reducing engine's capacity at same power or increasing engine's power without increasing capacity. Downsizing is a common trend in automotive engine design, allowing for more fuel-efficient vehicles.
Did you know? The term 'downsizing' gained popularity in the 1980s, particularly in the context of corporate restructuring and layoffs, as companies sought to reduce costs and increase efficiency.