Reese Witherspoon to star in 'Downsizing'

'Wild' star Reese Witherspoon is reteaming with her 'Election' director Alexander Payne for the Matt Damon-starrer 'Downsizing'.ALSO READ: Reese Witherspoon blames divorce for career slumpDamon plays a man who is down on his luck and decides to undergo a process to shrink himself for a better life. Payne previously directed 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. Damon reportedly plans to shoot the social satire after completing his next 'Bourne' movie. Witherspoon had circled 'Downsizing' earlier also in 2009.WATCH: 73 Questions with Reese Witherspoon