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English definition of “retrench”

retrench

verb     /rɪˈtrentʃ/
[I] formal If governments, companies, etc. retrench, they start spending less money, or reducing costs: The company had to retrench because of falling orders.Economics and the state of the economy [T] Australian English to remove a worker from their job as a means of reducing costsFiring staff and being fired
(Definition of retrench verb from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)
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