Cutting back on products, markets, operations because the firm’s overall competitive and financial situation cannot support commitments needed to sustain or build its operations.

Webster Dictionary Meaning

1. Retrenchment
- The act or process of retrenching; as, the retrenchment of words in a writing.
- A work constructed within another, to prolong the defense of the position when the enemy has gained possession of the outer work; or to protect the defenders till they can retreat or obtain terms for a capitulation.
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