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Verb: downsize  'dawn,sIz
  1. (of a company) reduce in size or number of employees
    "the company downsized its research staff"
     
  2. Dismiss from work
    "three secretaries were downsized during the financial crisis"
     
  3. Design or manufacture in a smaller size
    "the car makers downsized the SUVs when fuel became very expensive"
     
  4. Move to a smaller home
    "some people downsize when they retire"

Derived forms: downsized, downsizes, downsizing

Type of: bring down, cut, cut back, cut down, furlough [N. Amer], lay off, reduce, shrink, trim, trim back, trim down

Encyclopedia: Downsize