are axing
Present progressiveconjugation ofax.There are other translations for this conjugation.

ax

But the main reason so many foreign-owned banks are axing or downsizing in Switzerland is that their Swiss operations represent only a small, niche part of the group's business operations, according to Martin Schilling.
Pero si hay que definir una razón central por la que los bancos extranjeros están 'haciendo maletas'–o recortado sus operaciones- es porque Suiza representa para ellos solo una pequeña porción de su negocio global, advierte Martin Schilling.
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