"To shrink the workforce" means to decrease the number of employees or reduce the size of the workforce within a company or organization. It typically involves cutting jobs or positions. Full definition
While shrinking your workforce is not an attractive option, it may be necessary to keep your business alive. (debt.org)
Some traditional media companies may look to shrink their workforce as smaller, start - up media organizations pop up around the internet. (resume-now.com)
To lessen the sting, the district offered a buyout, hoping to shrink the workforce through attrition. (huffingtonpost.com)