Retrenchment is a strategy often used by businesses to reduce expenses and improve their financial position. When a company retrenches, it typically reduces its workforce or cuts back on expenses in order to streamline operations and improve profitability. Some synonyms for retrenchment include downsizing, reducing, cutting back, trimming, restructuring, and economizing. These terms all refer to the process of making changes to a business in order to improve its financial position. Retrenchment can be a difficult process for employees and stakeholders, but it can also be necessary in order to ensure the long-term sustainability of a company.