downgradedown·grade /ˈdaʊngreɪd/ verb [transitiveT]1to give something less importance, for example by spending less money on it or reducing its valueThe drug company is planning to downgrade some of its products from prescription status.
2HUMAN RESOURCESto make someone’s job less important or well-paid than it was beforeEighty-eight middle managers had been made redundant, downgraded or fired.
Services have been reduced and temporary contracts are being used to downgrade or replace qualified staff.
→ compare upgrade1 3ECONOMICS to reduce an amount or value that you had calculated or guessedAnalysts downgraded four-year profit projections and exposed the fledgling company to the harsher side of stockmarket life.
The company’s long-term debt-rating has been downgraded from triple-A to double-A-2.
→ compare upgrade1 —downgrade noun [countableC]profit downgrade