Meaning of the word downsizing in English

What does downsizing mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

downsizing

US /ˈdaʊn.saɪ.zɪŋ/
UK /ˈdaʊn.saɪ.zɪŋ/

Noun

1.

the practice of making a company or an organization smaller by reducing the number of people working for it, or an occasion when this is done:

Example:
The company announced a worldwide downsizing of its operations.
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