[uh-trish-uh
n] 
| 1. | a reduction or decrease in numbers, size, or strength: Our club has had a high rate of attrition because so many members have moved away. |
| 2. | a wearing down or weakening of resistance, esp. as a result of continuous pressure or harassment: The enemy surrounded the town and conducted a war of attrition. |
| 3. | a gradual reduction in work force without firing of personnel, as when workers resign or retire and are not replaced. |
| 4. | the act of rubbing against something; friction. |
| 5. | a wearing down or away by friction; abrasion. |
| 6. | Theology. imperfect contrition. See under contrition (def. 2). |
| at·tri·tion (ə-trĭsh'ən) n.
[Middle English attricioun, regret, breaking, from Old French attrition, abrasion, from Late Latin attrītiō, attrītiōn-, act of rubbing against, from Latin attrītus, past participle of atterere, to rub against : ad-, against; see ad- + terere, to rub; see terə-1 in Indo-European roots.] at·tri'tion·al adj. |
Attrition
The reduction in staff and employees in a company through normal means, such as retirement and resignation. This is natural in any business and industry.
Investopedia Commentary
This type of reduction in staff is one way a company can decrease labor costs: the company simply waits for its employees to leave and freezes hiring. Such a method contrasts the more severe labor-reduction techniques, such as mass layoffs. Waiting for attrition is usually better for company morale.
Related Links
Surveying The Employment Report
Understanding the Consumer Confidence Index
See also: Downsize, Golden Boot, Layoff, Restructuring, Severance Pay
attrition at·tri·tion (ə-trĭsh'ən)
n.
A wearing away by friction or rubbing, such as the loss of tooth structure caused by abrasive foods or grinding of the teeth.
