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Definitions:
Verb
downsize
Definition: dismiss from work; "three secretaries were downsized during the financial crisis"
downsize
Definition: design or manufacture in a smaller size; "the car makers downsized the SUVs when fuel became very expensive"
downsize
Definition: (of a company) reduce in size or number of employees; "the company downsized its research staff"
Definition: To reduce in size or number.