retrench
UK: rɪˈtrentʃ | US: rɪˈtrentʃ
vt. to cut down or reduce (expenses, staff, etc.)
vt. to fortify or protect with a retrenchment (military)
vi. to economize or reduce costs
The word "retrench" originated in the late 16th century from French retrencher, combining re- (back) and trencher (to cut). Initially used in military contexts to mean "cut back fortifications," it later expanded to general usage meaning "to reduce expenses." The logic follows the literal idea of "cutting back" resources or defenses.
The company had to retrench 20% of its workforce due to financial losses.
During the recession, many families retrenched their spending on non-essentials.
The general ordered the troops to retrench their position before the enemy attack.
To survive the economic downturn, the firm retrenched its operations.
She retrenched her budget by canceling unnecessary subscriptions.