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Longman Dictionary of Contemporary English
downsize
verb
COLLOCATIONS FROM CORPUS
■ NOUN
company
▪ The situation forced the company to downsize from 35 to six people and start looking for either a buyer or non-exclusive licensees.
Company after company is just downsizing ruthlessly all the time.
▪ Some companies need to downsize to survive.
▪ Or tax incentives encourage companies to stretch out downsizing and keep more jobs at home?
government
▪ Men, however, overwhelmingly favored Republican ideas on downsizing government, balancing the budget and welfare reform.
▪ Yet in the name of downsizing government Congress wants fewer rather than more central supervisors.
job
▪ Still others have been forced into it after losing jobs to downsizing.
▪ Since 1990, surrounding Cannon County has lost some 700 jobs to downsizing.
year
▪ Another year, another downsizing, and this time a monster.
▪ Ulrich recently retired from the company and Lundwall lost his job last year after a downsizing.
EXAMPLES FROM CORPUS
▪ And the overall quality of care remains vulnerable to health industry cost-cutting and downsizing.
▪ Another year, another downsizing, and this time a monster.
▪ Feds, in recent years, have learned about downsizing.
▪ For devotees of downsizing, the signs are that this could be a vintage year.
▪ Some argue that downsizing is dissolving the glue that has traditionally held companies together, and without which they may never flourish.
▪ The boxes are clearly aimed at data intensive applications downsizing from mainframes.
Douglas Harper's Etymology Dictionary
downsize

1986 in reference to companies shedding jobs; earlier (1975) in reference to U.S. automakers building smaller cars and trucks (supposedly a coinage at General Motors), from down (adv.) + size (v.). Related: Downsized; downsizing.

Wiktionary
downsize

vb. 1 (context intransitive English) To reduce in size or number. 2 (context transitive English) To reduce the workforce of. 3 (context transitive English) To terminate the employment of.

Wikipedia
Downsize (automobile)

Downsizing in the automobile industry is the practice of redesigning a vehicle to retain the interior volume, and often the nameplate and styling of a larger car to a smaller, more efficient platform. It was common in the 1970s following the 1973 oil crisis.

General Motors was among the first to announce a downsize strategy for the whole company as a response to demand for smaller more efficient cars. An alternative strategy was to simply rebadge or mildly restyle smaller vehicles, as nameplates such as the Ford LTD and Plymouth Fury were applied to smaller platforms.

The term engine downsizing is used when the car itself remains the same size but the engine is reduced, with the aim of making the vehicle more efficient.

Usage examples of "downsize".

He is the author of the bestseller Downsize This: Random Threats from an Unarmed American, and coauthor with Kathleen Glynn of Adventures in a TV Nation.

Two years ago, they announced they were downsizing the company and told me I was being laid off.

In Michigan alone, the birthplace of downsizing, there are over fifty militia groups, the most in the country.

As a member of that minority of Americans who are unarmed, I have to find another way to combat the downsizing tide that seems to be rising against us.

It is no coincidence that the number one employer in Mexico today is our number one downsizing leader, General Motors.

But what if the rumors were true, and a real downsizing were beginning?

Every day the newspapers reported more downsizing, thousands of men in mid life losing the jobs that once seemed so secure, so permanent.

All you have to do to be a good liberal is to say yes to everything, except cutting spending and downsizing government.

Cheney says that with the end of the Cold War and the pressures to cut spending because of the enormity of the federal debt, we are downsizing our military to an alarming level.

In addition to downsizing our military, we seem also, under the Clinton administration, to be rudderless in matters of foreign policy.

Or downsizing may be undertaken as a more or less routine way of pleasing the shareholders, who, thanks to stock options, now include the top-level managers.

But the events of the last few years, with the addition of the LANTIRN and the shortage of strike aircraft due to downsizing, had forced the Tomcat community to take a lead role in strike warfare.

Towneites had started to call the area after a long bad summer for corporate downsizing and selling real estate.

With the end of the war, targets began shifting, the signals intelligence agencies dramatically downsized, and money became short.

Navy, even gutted and downsized as it was, could handle any three other navies in the world in less time than it would take the enemies to assemble their forces and send out a press release of their malicious intent.