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• n  entrenchment consisting of an additional interior fortification to prolong the defense
• n  the reduction of expenditures in order to become financially stable

• But if it's happening to a lot of them at once, you get the paradox of deleveraging: a downward spiral in which failure begets more failure and retrenchment begets more retrenchment.
• The retrenchment at individual campuses will mean fewer student jobs, fewer teaching assistants, a virtual elimination of lecturers (who often teach up to 30% of undergraduate .
• Last week the outgoing former Finance Minister, thrifty Junnosuke Inouye, famed for wise and adroit retrenchment, boiled over in helpless rage.

• curtailment
• downsizing

News & Articles

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• THE NLJ 350
  Law firms grew by just 1.1 percent in 2012, a retrenchment from 2011. Most of the gains were among partners; associate results were flat.
  June 8, 2013 - Law.com
• Many school districts planning classroom cutbacks, report shows
  HARRISBURG - Three-fourths of Pennsylvania's school districts plan to scale back instructional programs in the 2013-14 school year, according to a survey released Wednesday that forecasts a third straight year of retrenchment.
  June 6, 2013 - Reading Eagle
• Three-fourths of Pa.'s districts plan program cuts in 2013-14
  HARRISBURG (AP) — Three-fourths of Pennsylvania's school districts plan to scale back instructional programs in the 2013-14 school year, according to a survey released Wednesday that forecasts a third straight year of retrenchment.
  June 6, 2013 - Pocono Record

Quotes

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• Manmohan Singh in Vancouver Sun
  My own feeling is that early fiscal retrenchment carries very considerable global risks,Singh told the Toronto Star.
• Ben Bernanke in International Herald Tribune
  We are going through a retrenchment, and that's a painful retrenchment,Bernanke said.
• Nick Clegg in Times Online
  Fiscal retrenchment does not mean a repeat of the 1980s,Clegg told The Observer. "We are going to do this differently."