Resizing the layout frame while preserving the map scale in MapInfo Pro

Product Name: MapInfo Pro™
  1. Double click on the layout frame to activate it.
  2. With the layout frame activated, click on the 'Change View' button under the MAP tab
  3. Enable 'Preserve Current Scale' option under the Change View dialog box
  4. Click OK
  5. Change the frame size in the layout to a smaller/larger size by clicking and dragging the corner points of the frame
 User-added image

By performing the above steps, a frame which fits tighter around the map contents can be achieved.
UPDATED:  December 4, 2019