re·trench 
/rɪˈtrɛntʃ/ verb
re·trench·es; re·trenched; re·trench·ing /rɪˈtrɛntʃ/ verb [no obj] formal : to change the way things are done in order to spend less money
▪ When the economy slowed, the company was forced to retrench.
▪ When the economy slowed, the company was forced to retrench.
— re·trench·ment /rɪˈtrɛntʃmənt/ noun, plural re·trench·ments [count, noncount]
▪ The company is going through a (period of) retrenchment.
/rɪˈtrɛntʃmənt/ noun, plural re·trench·ments [count, noncount] ▪ The company is going through a (period of) retrenchment.
