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shake-out

noun
  1. the process of reducing the number of people in a workforce in order to lower the costs of a company
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Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

Examples from the Web for shake-out

Historical Examples

  • It was a shake-out from top to bottom, and the bloods on our division went white and sickly very fast.

    Held for Orders

    Frank H. Spearman