"reduce the size of," 1986 in reference to companies shedding jobs; earlier (1975) in reference to U.S. automakers building smaller cars and trucks (supposedly a coinage at General Motors), from down (adv.) + size (v.). Related: Downsized; downsizing.
three secretaries were downsized during the financial crisis
the car makers downsized the SUVs when fuel became very expensive
the company downsized its research staff
downpour
downrange
downright
downscale
downside
downsize
downspout
downstairs
downstream
downtime
downtown
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