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English definition of “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 noun from the Cambridge Business English Dictionary © Cambridge University Press)
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