attrition

/əˈtrɪʃən/ noun [U]

Definition

› HR a reduction in the number of employees in a company made by not replacing those who leave, rather than forcing people to leave their jobs: The majority of jobs will go through natural attrition. Staff attrition rates are high. → Compare natural wastage

› MARKETING a reduction in the number of people who buy a product or service, for example because of its age, increased competition, etc.: We aim to minimize the rate of customer attrition.

(Definition of attrition noun from the Cambridge Business English Dictionary © Cambridge University Press)