retrenchmentnoun [ C or U ]
uk/rɪˈtrentʃ.mənt/us/rɪˈtrentʃ.mənt/a situation in which a government, etc. spends less or reduces costs
Australian English a situation in which someone loses their job because their employer does not need them:
The downturn in business has resulted in many retrenchments.
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Economics
- autarchy
- broad money
- Chancellor of the Exchequer
- consumer price index
- credit crunch
- deflate
- depressed
- downturn
- economist
- GDP per capita
- GNI
- hyperinflation
- market forces
- mixed economy
- pecuniary
- protectionism
- retail price index
- spending
- stall
- trade figures
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You can also find related words, phrases, and synonyms in the topics:
Firing staff