down·size 
/ˈdaʊnˌsaɪz/ verb
down·siz·es; down·sized; down·siz·ing /ˈdaʊnˌsaɪz/ verb 1 : to make (something) smaller [+ obj] ▪ They have downsized the car's engine in the new model. [no obj] ▪ We downsized to a smaller apartment last year. [=we moved to a smaller apartment] 2 : to make a company smaller and more efficient by reducing the number of workers [no obj] ▪ The company is planning to downsize next year. [+ obj] ▪ The company will be downsized next year. ▪ The company has downsized [=reduced] its staff. ▪ She was downsized [=she was dismissed from her job] after 15 years with the company.
— downsizing noun, plural downsizings
[count] ▪ He lost his job in a recent downsizing at the company. ▪ corporate downsizings [noncount] ▪ problems caused by corporate downsizing
[count] ▪ He lost his job in a recent downsizing at the company. ▪ corporate downsizings [noncount] ▪ problems caused by corporate downsizing
