A helpful resource for simplifying 3D models in Three.js is the simplifier example. To achieve this, you can utilize the SimplifyModifier, but if your model consists of multiple meshes, you'll need to traverse through each one:
const loader = new THREE.GLTFLoader();
loader.load( 'foo.glb', function ( gltf ) {
const model = gltf.scene;
const modifer = new THREE.SimplifyModifier();
model.traverse( function ( o ) {
if ( o.isMesh ) {
const numVertices = o.geometry.attributes.position.count;
o.geometry = modifer.modify( o.geometry, Math.floor( numVertices * 0.9375 ) );
}
} );
scene.add( model );
}, undefined, function ( e ) {
console.error( e );
} );