Involves selling off, or closing down parts of a business that are in decline, in order to concentrate on core activities in which the business has some competitive advantage. It might involve: moving to smaller premises; closing down a particular factory / plant / retail outlet in a particular location; selling off any surplus machinery and equipment; downsizing (ie reducing the number of workers, or redeploying them in areas where they are most needed); delayering (ie removing a complete layer of management).