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English definition of “retrenchment”

retrenchment

noun [C or U]     /rɪˈtrentʃ.mənt/
a situation in which a government , etc. spends less or reduces costs Economics and the state of the economy Australian English a situation in which someone loses their job because their employer does not need them: The downturn in business has resulted in many retrenchments. → Compare redundancyFiring staff and being fired
(Definition of retrenchment noun from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)
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