What does downsizing mean?
noun
The act of reducing the size of an organization, often by laying off employees, or the state of being reduced in size. This can be a strategic decision made by a company to improve its financial performance or to adapt to changing market conditions.
Example
"The company's decision to downsize led to significant cost savings, but also resulted in the loss of many experienced employees."
Definition generated by AI and curated by RJS Tech Solutions LLP.