The Collaborative International Dictionary of English v.0.48:

downsizing \downsizing\ n. (Economics)
   the reduction of expeditures and personnel in order to become
   financial stable; -- of businesses.

   Syn: retrenchment, curtailment.
        [WordNet 1.5]

WordNet (r) 3.0 (2006):

downsizing
    n 1: the reduction of expenditures in order to become
         financially stable [syn: retrenchment, curtailment,
         downsizing]

The Free On-line Dictionary of Computing (30 December 2018):

downsizing

    The process of moving an application program from a
   mainframe to a cheaper system, typically a client-server
   system.

   (1995-03-27)