Meaning of the word halving in English

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

halving

US /ˈhælvɪŋ/
UK /ˈhɑːlvɪŋ/

Noun

the action of dividing something into two equal halves or reducing something by half

Example:
The company announced a halving of its workforce.
The halving of the Bitcoin reward occurs approximately every four years.