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English definition of “cutback”

cutback

noun [C] uk   /ˈkʌt.bæk/ us  
C1 a reduction in something, made in order to save money: The closure of the Manchester printing factory is the company's biggest single cutback so far.Budgeting and saving moneyEconomics and the state of the economy
(Definition of cutback from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)
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