retrench

1 tighten one's belt; use resources carefully

2 make a reduction, as in one's workforce; "The company had to retrench"

English

Verb

1. To cut down or reduce something

Retrenchment means the reduction of expenditures in order to become financially stable (e.g., by cutting jobs).

Retrenchment of the state, accompanied by lowering taxes, is frequently advocated by capitalist, neo-liberal, and libertarian groups.

See Also

• Layoff

References

Paul Pierson, Dismantling the welfare state? Reagan, Thatcher, and the politics of retrenchment, Cambridge University Press, 1994, ISBN-13: 978-0521555708, ISBN-10: 0521555701.

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