Retrenchment: meaning, definitions and examples
๐ผ
retrenchment
[ rษชหtrษnสงmษnt ]
financial strategy
Retrenchment refers to the reduction of costs or spending in response to economic difficulty. This strategy is often employed by organizations during challenging financial periods to maintain stability and solvency. It may involve cutting jobs, reducing salaries, or implementing other austerity measures to preserve financial resources. Retrenchment aims to streamline operations and enhance efficiency while navigating a difficult economic landscape.
Synonyms
austerity, cutback, reduction.
Examples of usage
- The company announced a policy of retrenchment to manage its budget.
- Due to the economic downturn, many firms resorted to retrenchment.
- Retrenchment measures were deemed necessary to ensure the survival of the organization.
Translations
Translations of the word "retrenchment" in other languages:
๐ต๐น reduรงรฃo
๐ฎ๐ณ เคเคฎเฅ
๐ฉ๐ช Einsparung
๐ฎ๐ฉ penghematan
๐บ๐ฆ ัะบะพัะพัะตะฝะฝั
๐ต๐ฑ redukcja
๐ฏ๐ต ๅๆธ
๐ซ๐ท rรฉduction
๐ช๐ธ reducciรณn
๐น๐ท azaltma
๐ฐ๐ท ์ถ์
๐ธ๐ฆ ุชุฎููุถ
๐จ๐ฟ omezenรญ
๐ธ๐ฐ obmedzenie
๐จ๐ณ ๅๅ
๐ธ๐ฎ zmanjลกanje
๐ฎ๐ธ skurรฐ
๐ฐ๐ฟ ะฐะทะฐะนัั
๐ฌ๐ช แแแแแแฅแขแฃแ แแแ
๐ฆ๐ฟ azaltma
๐ฒ๐ฝ reducciรณn
Etymology
The term 'retrenchment' originates from the Middle French word 'retrancher,' meaning 'to cut back or to prune', which itself derives from the Latin 'retrahere', meaning 'to draw back'. The concept became particularly significant in the realm of economics and organizational management during the 20th century, as businesses sought to implement measures to reduce expenses during times of financial crisis. The use of retrenchment strategies grew in response to increasing economic volatility, allowing companies to navigate challenges by reassessing their operational expenditures. Over the years, retrenchment has been discussed in various economic theories and management practices, emphasizing its role as a mechanism for survival in competitive markets.