Retrench (verb)

1. To reduce the amount or number of something.
2. To cut back on expenditure.

Origin:

Late middle english (in the sense "cut back, reduce"): from old french retrencher, from re- "back" + trenchier "cut".

Examples:

1. The company was forced to retrench its workforce due to financial difficulties.
2. The government decided to retrench its military presence in the region.
3. The manager advised the staff to retrench their spending in order to save money.
4. The school was forced to retrench its budget for extracurricular activities.
5. The family retrenched their expenses in order to pay off their debts.