Third person singular or plural present tense of abbreviate; shortens a word or phrase while keeping its meaning.
From Latin 'abbreviare' (ad- 'to' + brevis 'short'). The verb form shows regular conjugation patterns used in English since the Middle English period.
When you abbreviate 'especially' to 'esp.' you're doing something Romans did 2,000 years ago with their Latin writing—Latin writers invented abbreviations out of laziness on expensive papyrus, and we're still doing it on cheaper material called phones.
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