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English definition of “retrench”

retrench

verb     /ˌriːˈtrentʃ/
[I] MANAGEMENT, FINANCE if governments, companies, etc. retrench, they start spending less money, or reducing costs: Some large corporate R&D departments have retrenched. It's time to retrench and refocus on our key brands. The company retrenched and cut staff in the face of the impending downturn.
[T] Australian English HR, WORKPLACE to remove a worker from their job as a way of reducing costs: With the level of unemployment already so high, the thought of approximately 10,000 workers being retrenched is difficult to bear. → See also lay sb off
(Definition of retrench verb from the Cambridge Business English Dictionary © Cambridge University Press)
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