I took in a couple inches along the inseam, increasing to a few inches removed from the crotch to make them less high-waisted. And then I took in the waist a bit as well on the sides.
We've also got this jacket to refashion. Though it used to fit better, I was never a huge fan of the poofy sleeves - not terribly flattering for someone with fairly broad shoulders already. I plan to chop them off entirely and make this a more fitted vest.
First I cut off the sleeves and tossed them in my scrap pile for possible later use. Then I turned my attention to the size issue. The bottom front hem curved downward slightly from the side seam, so simply sewing a new seam would leave the bottom edges uneven. Instead, I cut open the side seams, realigned the bottom edges where my new seam would be, and left the armhole edges uneven since my next step would be to cut them a bit wider anyway.
After doing so that, I added another bust dart on each side to keep my newly widened armholes from gaping. The bottom dart is original to the jacket; the top one is mine. Then I hemmed the raw edges of my new armholes, and I was all set!
And now let's put them together - my taken-in khakis and my jacket-turned-vest!