The phrase "and reduce the value" is correct and usable in written English.
It can be used in contexts where you are discussing the act of lowering or diminishing the worth or importance of something.
Example: "The new policy aims to streamline operations and reduce the value of unnecessary expenditures."
Alternatives: "and lower the worth" or "and diminish the value".
Investors may become cautious, and reduce the value they attach to the acquisition machine's stock.
Rising interest rates will invariably squeeze banks' profit margins and reduce the value of some lenders' own investments.
The yellow cab industry fiercely opposes the plan, saying it would cut revenue and reduce the value of medallions.
They are also concerned that traffic from the big-box store would threaten their quality of life and reduce the value of their homes.
A ban on daytime advertising would blow a hole in ITV's business plan as wide as Newmarket Heath, and reduce the value of the rights in future deals almost to zero.
Persistent moves by the Fed to ease monetary policy would be expected to push up stock prices, pull down longer-term interest rates in the bond market and reduce the value of the dollar.
They erode home values, damage neighborhoods and reduce the values of other properties, thereby intensifying the decline in housing prices that underlies many of our current problems.
Instead he employed the more accurate 3-2-1 1/2, which gives added weight to aces and reduces the value of jacks.
Embarking on a systematic program of inflation, however, runs the risk of hurting retirees and reducing the value of the yen.
Some are already inserting themselves between incumbent banks and their customers, in effect hijacking the relationship and reducing the value of the banks' consumer franchises.
Alan Smithers, former professor of education at Liverpool, now at Buckingham University, said: "This is firm evidence of lowering the bar and reducing the value of a 'first' - which is hard on those who have done outstandingly well".
