cut back vs retrench

cut back and retrench both are verbs.

Word	Noun	Adjective	Verb	Adverb
cut back	No	No	Yes	No
retrench	No	No	Yes	No

As verbs, retrench is a hyponym of cut back; that is, retrench is a word with a more specific, narrower meaning than cut back:

cut back (verb)	retrench (verb)
place restrictions on	make a reduction, as in one's workforce
cut down on; make a reduction in	tighten one's belt; use resources carefully
cultivate, tend, and cut back the growth of
return in time