downsizing

(noun) the reduction of expenditures in order to become financially stable. Synonyms: retrenchment, curtailment.

(verb) dismiss from work. Synonyms: downsize. Example: "Three secretaries were downsized during the financial crisis."

(verb) make in a smaller size. Synonyms: downsize. Example: "The car makers downsized the suvs when fuel became very expensive."

(verb) reduce in size or number. Synonyms: downsize. Example: "The company downsized its research staff."