Hi,
Reducing the size of the disk cannot be done without cloning the VM (as André suggests).
You might however be able to shrink the disk by reclaiming unused space and give that back to the host.
How-to do that depends on the OS in the guest VM.
If your guest OS is Windows and you are using VMware Workstation professional then your best option is to do so from the menu in VM -> Manage -> Clean up Disks.
I don't think VMware Player has this option.
Here's an article that discusses the most common ways to do so regardless:
https://www.vi-toolkit.com/wiki/index.php?title=Shrink_guest_on_hosted_platform
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Wil
