Meaning

verb tighten one's belt; use resources carefully

verb make a reduction, as in one's workforce

originFrom Old French retranchier (“to get rid of, remove”) (modern French retrancher (“to cut out, take away; to cut off; to cut down”)), from re- (“again”) + tranchier, trenchier (“to cut”) (modern French trancher (“to slice”)); further etymology uncertain, but possibly either from Vulgar Latin *trinicāre (“cut in three parts”) (from the root trini from trēs (“three”), based on the model of duplicāre…

Etymology from Wiktionary, CC BY-SA 3.0