1. tighten one's belt; use resources carefully

Definition categories: possession, conserve, economise, economize, husband

2. make a reduction, as in one's workforce

- The company had to retrench

Definition categories: change, cut, reduce, trim

Sentences with retrench as a verb:

- to retrench bastions

- We must retrench and try to hold on long enough for products in development to reach the market or we will be out of business.