What is the name of the strategy that involves selling off land and buildings to raise needed cash, pruning product lines,

closing marginal businesses,

closing obsolete factories,

automating processes,

reducing the number of employees,

and instituting expense control systems?

Retrenchment Strategy

Explanation:

Retrenchment Strategy

It is the strategy adopted by an organization, when the aim of the organization is to reduce one or more business operations in order to cut expenses and to attain a stable financial position.

Retrenchment Strategy can also be defined as the strategy which an organisation follows when it decides to eliminates the activities via reduction in the business operations, from the perspective of the group of customer, the functions of the customer and technology alternative, which can be individual or collective.

There are three types of Retrenchment Strategy -

Liquidation, Divestment, Turnaround.