Phaseout (noun)

The process of gradually reducing or discontinuing the use or production of something over a period of time.

Origin:

The word 'phaseout' is a combination of the word 'phase' and the word 'out'. it was first used in the early 20th century to describe a gradual reduction or discontinuation of something.

Examples:

1. The government announced a phaseout of the use of fossil fuels in the country, with a goal of transitioning to renewable energy sources.
2. The company announced a phaseout of the use of single-use plastics, as part of its sustainability efforts.
3. The phaseout of the outdated technology was necessary in order to keep up with advancements in the industry.
4. The phaseout of the product was slow, as the company worked to ensure a smooth transition for its customers.
5. The phaseout of the policy was met with resistance from some members of the community, who were concerned about the impact it would have on their businesses.