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axe

verb [T] (US also ax)
 
 
/æks/

Definition

to reduce services, jobs, payments, etc. a lot or completely without warning or in a single action: Because of the recession the company is to axe 350 jobs. The TV series will be axed owing to a decline in popularity.Becoming and making smaller or lessBecoming and making less strong
(Definition of axe verb from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)

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