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English definition of “shakeout”

shakeout

noun [C or U] (also shake-out)
 
 
/ˈʃeɪkaʊt/
ECONOMICS a difficult economic situation in which people lose their jobs and unsuccessful businesses close down: The industry went through a bad time and there are not too many companies left after the shakeout. The recession will result in shakeout and temporary decline in the industry.
MANAGEMENT the process of changing an organization to be more successful, especially by removing people: shakeout of sb/sth The company announced the shakeout of its senior management.
(Definition of shakeout from the Cambridge Business English Dictionary © Cambridge University Press)
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