What is another word for retrenched?

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Past tense for to reduce (something) in extent or quantity
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“As prices fell and demand slumped, most mills began to nibble at piece rates, retrench their workforce, and increase workloads.”
Past tense for to be economical or frugal with
“The declining sales growth indicated economic trouble and a need to retrench costs.”
Past tense for to become smaller or less in amount, degree or intensity
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