When I was active-duty in the mid 1970’s, such a downsize was called “Reduction In Forces”, shortened to RIF. If you were forced out or reclassified, you were “riffed.”
But I didn’t personally meet any enlisted personnel who were effected, only company-grade officers (O-1 through O-3) with reserve commissions via ROTC or OCS.
One prior captain (I can’t remember his MOS) who was now an E-5 told me he was forced out of active duty as an O-3, and had a choice of either going to reserve status as a captain, or staying on active duty reclassified to E-5.
Same here. 74-78. It was a pretty bad time. Since the draft had just ended, they were taking just about anyone with a pulse. Dopers, drunks and thugs were not in short supply. Money must’ve been tight because I remember our Division Cdr. ordering the tank guys not to pivot steer because they didn’t have money for new track pads.
It seems the military is in much better shape now, but with Carter 2 in charge, that may not last.
USMA grads were also included in the RIF in the post RVN force draw down.
That was me in 74. I had a choice of reverting to E-8 or retire after 27 yrs in navy. I retired.
In the late 50s - early sixties my dad was an Air Force NCO. He served with several former officers, including at least one former full Colonel. My dad said that back then, once you retired, you reverted to the highest rank you held before being RIF'd, so when he retired MSgt Whatshisname was became COL Whatshisname (RET).