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English definition of “downgrade”

downgrade

verb [T]     /ˌdaʊnˈɡreɪd/ US   /ˈdaʊnɡreɪd/
FINANCE to state that something such as a company is likely to produce less profit or growth , to be less able to pay back debt , etc. than was previously thought : downgrade stocks / shares downgrade sth's rating/status Investment bank Merrill Lynch downgraded the company's status from ' buy ' to ' neutral '. The Chancellor blamed higher oil prices for the downgraded growth forecast .
HR to make a job less senior , skilled , or important than before, or to put someone into a less senior or important job : The new contracts effectively downgraded their jobs to match their colleagues ' lower pay . The agreement may lead to one in six staff being downgraded.
(Definition of downgrade verb from the Cambridge Business English Dictionary © Cambridge University Press)
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