Definition, Meaning & Synonyms
phaseout
noun
/ˈfeɪzˌaʊt/
Definition
The gradual discontinuation of a product, service, or practice over a specified period.
Examples
- The company announced a phaseout of its older software products by the end of the year.
- Due to environmental regulations, there will be a phaseout of certain harmful chemicals used in manufacturing.
- The phaseout of fossil fuel subsidies is expected to encourage renewable energy investments.
Meaning
The process of ending or eliminating something in stages rather than all at once.
Synonyms
- discontinuation
- elimination
- withdrawal
