Reduce costs, save money, reduce staff, for example.
Meanings of Retrench
Reduces costs or expenses in response to financial difficulties (of a company, government or individual).
Sentences of Retrench
After the recession, the company declined
Synonyms of Retrench
make economies, save, cut back, cut corners, budget, draw in one's horns, economize, reduce expenditure, tighten one's belt, husband one's resources, make cutbacks, be frugal, scrimp and save, be economical, be sparing, make savings