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English definition of “cutback”

cutback

noun [C, usually plural]     /ˈkʌtbæk/
a reduction that is made to save money: The company has announced cutbacks in production due to falling sales.big/drastic/severe, etc. cutbacks The closure of the construction company could mean big cutbacks among its suppliers.announce/propose/face, etc. cutbacks Many schools are facing cutbacks in funding this year. budget/staff/spending, etc. cutbacks
(Definition of cutback noun from the Cambridge Business English Dictionary © Cambridge University Press)
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