retrenchment

[ri-trench-muhnt]
noun
1.
the act of retrenching; a cutting down or off, as by the reduction of expenses.
2.
Fortification. an interior work that cuts off a part of a fortification from the rest, and to which a garrison may retreat.

Origin:
1590–1600; < French retrenchement. See retrench, -ment

nonretrenchment, noun
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Based on the Random House Dictionary, © Random House, Inc. 2014.
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Collins
World English Dictionary
retrenchment (rɪˈtrɛntʃmənt)
 
n
1.  the act of reducing expenditure in order to improve financial stability
2.  an extra interior fortification to reinforce outer walls

Collins English Dictionary - Complete & Unabridged 10th Edition
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Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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American Heritage
Medical Dictionary

retrenchment re·trench·ment (rĭ-trěnch'mənt)
n.
The cutting away of superfluous tissue.

The American Heritage® Stedman's Medical Dictionary
Copyright © 2002, 2001, 1995 by Houghton Mifflin Company. Published by Houghton Mifflin Company.
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Example sentences
Many researchers are optimistic that the present retrenchment actually bodes
  well for the long-term success of genetic medicines.
No sooner does he hear any of his brothers mention reform or retrenchment, than
  up he jumps.
There can be plenty of resentment, especially in a time of hiring freezes,
  furloughs and retrenchment.
Elsewhere, there are a growing number of countries planning or weighing a
  nuclear retrenchment.
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