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to hive off
[phrase form: hive]
01
to separate a part of a business, organization, or group to create a new, independent entity
02
to take money from one place and move it somewhere else, often secretly dishonestly
Example
The company decided to hive off its software division into a separate subsidiary.
The university is considering whether to hive off the engineering department as its own college.
They plan to hive off the less profitable branch and focus on core operations.
The decision to hive off the underperforming stores helped the retail chain streamline its operations.
The financial scandal involved executives hiving off profits through complex financial schemes.
