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Downsizing  
Level
Associate
'Downsizing' often refers to a company's strategy to make its operationalrelating to operations structure smaller by reducing the overall size or scalesize or extent of its operations. Typically, this means letting go of employees or closing certain business units.
Context
Business
In corporate settings, downsizing may become necessary during periods of economic downturndecline in economy. A CEO might announce, 'In light of the recent financial losses, we are forced to downsize, affecting several departmentssections of a business.'

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