Dictionary

hit the skids en · VERB

(idiomatic, intransitive) To fail; to decline.
- After all, if these measures could've succeeded, they would've been implemented five years ago when the world economy hadn't yet hit the skids. 2010, Ganesh Rathnam, Mises Daily, “A Greek Tragedy in the Making”, in Mises Institute:
- A metaverse backlash, already fully rooted, began to bloom. Microsoft’s military contract hit the skids, Disney laid off its entire metaverse team, and even Zuckerberg’s own employees seem not to have much time for the technology. 2023 June 6, Ian Bogost, “The Age of Goggles Has Arrived”, in The Atlantic:

Spelling	Features	Source
hitting the skids	Tense=Pres, VerbForm=Part	lexicographic
hit the skids	Tense=Past, VerbForm=Part	lexicographic
hit the skids	Tense=Past	lexicographic
hits the skids	Number=Sing, Person=3, Tense=Pres	lexicographic