If a company or organization downsizes, it reduces the number of people it employs in order to reduce costs. "The airline has downsized its workforce by 30%."
Term currently used to indicate employee reassignment, layoffs and restructuring in order to make a business more competitive, efficient, and/or cost-effective
To downsize something such as a business or industry means to make it smaller. American manufacturing organizations have been downsizing their factories. today's downsized economy. a consultant who's helped dozens of companies downsize. + downsizing down·siz·ing a trend toward downsizing in the personal computer market. if a company or organization downsizes, it reduces the number of people it employs in order to reduce costs