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v. Simple past tense and past participle of downsize.

"Gordon calculated, about 10 million workers would have been freed -- none dare call it "downsized" -- to do something more valuable in the economy (which almost anything other than implementing a wasteful strategy would be), realizing a possible "corporate bureaucratic dividend" of some half a trillion dollars."

downsized    downsizes    downsizing   

shrink    reduce    lay off    furlough    cut down   

lay off