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Explain what is meant by the term retrenchment in the context of labor markets.

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Explain what is meant by the term retrenchment in the context of labor markets.
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It's the term used when a company is trying to cut costs. Often times, the company will cut jobs to try and remain financially stable.
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It means jobs that are deemed not worthwhile will be cut. You could also use downsizing.
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Pink slip Time lay offs
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Retrenchment means removal of staff.. Unemployment in that sector.
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