downsize
//ˈdaʊnˌsaɪz//
Verb
downsizeInfinitive
downsizePresent tense
downsizedPast tense
downsizedPast participle
downsizingPresent participle
downsizesThird-person singular
1
To reduce the number of employees in a company or organization, typically to cut costs.
The company decided to downsize and laid off 200 employees.
2
To make something smaller in size, scale, or scope.
The company decided to downsize its product line to focus on core items.
3
To move to a smaller residence, especially after retirement or when children leave home.
After the kids moved out, my parents decided to downsize to a smaller apartment.