retrenchment
noun/rɪˈtrentʃmənt/
/rɪˈtrentʃmənt/
(formal)- [uncountable] the policy of spending less money; a deliberate reduction of costs
- a period of retrenchment
- [uncountable, countable] (Australian English, New Zealand English, South African English) the situation when somebody has to leave their job because there is no more work available for them synonym redundancy (1)
- The retrenchments are with effect from 1 August this year.
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retrenchment