downsize vs cut back

downsize and cut back both are verbs.

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

As verbs, cut back is a hypernym of downsize; that is, cut back is a word with a broader meaning than downsize:

Other hypernyms of downsize include bring down, cut, cut down, reduce, trim, trim back, trim down.

downsize (verb)	cut back (verb)
(of a company) reduce in size or number of employees	place restrictions on
design or manufacture in a smaller size	cut down on; make a reduction in
dismiss from work	cultivate, tend, and cut back the growth of
	return in time