Retrenchment

usgb/rɪˈtrentʃmənt/
noun

The act of reducing costs or spending in response to economic difficulty.

The company had to undergo retrenchment during the financial crisis to survive.
Visual representation of "retrenchment" - The act of reducing costs or spending in response to economic difficulty

Often appears as...

  • undergo retrenchment
  • company retrenchment

Usage tips

Formal

Definition 1 of 3
Visual representation of "retrenchment"
LampPro Tip 1/3

Economic Stress

Use 'retrenchment' when a business cuts costs due to financial problems.

Illustration for Economic Stress
Small businesses often face retrenchment during recessions.
LampPro Tip 2/3

Employee Impact

Retrenchment might imply laying off employees.

Illustration for Employee Impact
Due to retrenchment, the factory workers were worried about their jobs.
LampPro Tip 3/3

Last Resort

Retrenchment is often used as a last option to save money.

Illustration for Last Resort
Only after all other measures failed, the firm considered retrenchment.
Visual representation of the word "Retrenchment"

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