verb to reduce or diminish expenses or costs
In the finance industry, 'retrench' is commonly used to describe the act of reducing costs or expenses in order to improve financial performance.
In economics, 'retrench' can be used to describe a country's efforts to reduce government spending or debt in order to stabilize the economy.
In human resources, 'retrench' is often used in the context of downsizing or laying off employees as a cost-cutting measure during times of economic hardship.
In business management, 'retrench' refers to the strategic decision to cut back on certain operations or resources in order to streamline processes or improve efficiency.
In the publishing industry, a writer may retrench their manuscript to meet word count requirements or to improve the overall flow of the story.
A psychologist may recommend retrenching certain cognitive behavioral therapy techniques to better suit a patient's needs and goals.
In project management, retrenching may involve revising the project scope or timeline to ensure successful completion within budget constraints.
An accountant may retrench financial reports to provide a clearer picture of a company's financial health to stakeholders.
An engineer may retrench a design to reduce costs or improve efficiency without compromising the quality or functionality of the final product.