When K-Mart laid off thousands of people and closed over 100 stores, it was following a retrenchment strategy.

Name: When K-Mart laid off thousands of people and closed over 100 stores, it was following a retrenchment strategy.
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A retrenchment strategy is a plan to reduce the size or diversity of a company's operations in order to improve its financial performance. K-Mart's decision to lay off thousands of employees and close over 100 stores was a clear example of retrenchment.

When K-Mart Laid Off Thousands of People and Closed Over