Even if there are not additional firings, Wall Street's retrenchment will take a toll.

即使没有额外的裁员，华尔街的紧缩也会造成损失。

There are necessary times of retrenchment when, whatever we might desire, there seems no alternative but to stop.

有一些必要的紧缩时间，这时无论我们希望什么，似乎都别无选择只能暂停。

I'm definitely in the retrenchment school.

我肯定在裁员学校。

Retrenchment happens when a company is trying to restructure itself, reorganize its finances.

当一家公司试图重组自身、重组其财务时，就会发生裁员。

The challenge to management is how to motivate employees under such retrenchment conditions.

管理者面对的挑战就在于如何在企业衰退的境况下鼓励员工。

Instead, it was forced to make cuts to his year's budget worth ? 17bn; a marked retrenchment in a country already flirting with recession.

相反，政府被迫削减了当年价值170亿欧元的预算；在一个已经陷入衰退的国家进行明显的紧缩。

But what was missing in both cases was, well, we've had quite a lot of fiscal retrenchment in the UK already.

但这两种情况都缺少的是，好吧，我们已经在英国进行了相当多的财政紧缩。

So layoffs and retrenchments are similar, except that retrenchment is often looked at, technically, as more permanent, and layoffs, as I mentioned, might be temporary.

因此，裁员和裁员是相似的，只是从技术上讲， 裁员通常被视为更永久的， 而裁员，正如我提到的， 可能是暂时的。