Los Angeles: 'Wild' star Reese Witherspoon is reteaming with her 'Election' director Alexander Payne for the Matt Damon-starrer 'Downsizing'.

Reese Witherspoon
Reese Witherspoon. Pic/Santa Banta

Matt Damon plays a man who is down on his luck and decides to undergo a process to shrink himself for a better life.

Alexander Payne previously directed Reese Witherspoon to acclaim in his 1999 drama 'Election. The project is not financed at this stage. Payne, Taylor and Jim Burke are producing, said The Hollywood Reporter.

Matt Damon reportedly plans to shoot the social satire after completing his next 'Bourne' movie. Reese Witherspoon had circled 'Downsizing' earlier also in 2009.