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Diversifying
The strategy of expanding or varying products, services, or markets to reduce risk and increase potential for growth.
Reduction-In-Force (RIF)
A company strategy involving the decrease of its workforce due to budget cuts, restructuring, or other economic reasons, often leading to layoffs.
Cost-Savings Practice
Actions or strategies implemented by an organization or individuals to reduce expenses and save money without compromising quality or performance.
Recession
A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.
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