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Verb: downsize  'dawn,sIz
  1. Dismiss from work
    "three secretaries were downsized during the financial crisis"
  2. Design or manufacture in a smaller size
    "the car makers downsized the SUVs when fuel became very expensive"
  3. (of a company) reduce in size or number of employees
    "the company downsized its research staff"

Derived forms: downsizing, downsizes, downsized

Type of: bring down, cut, cut back, cut down, furlough [N. Amer], lay off, reduce, shrink, trim, trim back, trim down

Encyclopedia: Downsize