first, drop the ipocracy of gender equality...
then, drop entire senseless sports (artistic swimming, trampoline, rhytmic gymnastics, dressage, skateboarding, freestyle BMX, surf, rugby 7s, the current no man's baseball...and of course this weightlifting and the farce of "amateur" -or "Olympic", name it as you prefer- boxing) or some events in some senseless sports (synchronized diving, individual time trial in cycling)...
after that, drop most of the places reserved to officials and IOC's guests...actually, this could be the first option...
finally, I'm pretty sure that the remaining sports not only don't need quota reduction, but they also have a shot to regain their technical dignity by increasing the number of competitive starters in any event (of any sport)...
frankly, I'm really tired of and annoyed by this everlasting buzz of "quota reduction"...it's time to choose an affordable number of sports to appear at the Games and let them have the best and strongest competition possible...
stop making most Olympic events a "technical farce" in the name of stupid ipocracy...