Alexander Payne’s DOWNSIZING Trailer Experience the first DOWNSIZING trailer! The film, written and directed by Alexander Payne (Nebraska, The Descendants, Sideways), stars Matt Damon, Christoph Waltz, Hong Chau, Kristen Wiig, Jason Sudeikis, and Udo Kier. DOWNSIZING will be released in theaters on December 22. “Downsizing” follows a kindly occupational therapist who undergoes a new procedure to be shrunken to four inches tall so that he and his wife can help save the planet and afford a nice lifestyle at the same time.