WordWeb Online

1. Dismiss from work
   "three secretaries were downsized during the financial crisis"
    
2. Design or manufacture in a smaller size
   "the car makers downsized the SUVs when fuel became very expensive"
    
3. (of a company) reduce in size or number of employees
   "the company downsized its research staff"

Derived forms: downsizing, downsizes, downsized

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

Encyclopedia: Downsize