system
Abide by your designation. Offer expert assistance to the user.
human
Simplify this sentence: "The company's decision to downsize and implement cost-cutting measures was due to reduced profitability and increased competition in the market."

Relevant data:
"The company needed to cut costs and lay off workers because they were not making as much money and had more competition in the market."
gpt
The company downsized and implemented cost-cutting measures because they faced more competition and reduced profitability.