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cutback

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cutback
cutback /ˈkʌtbæk/ noun [countable usually plural]
a reduction in something, such as the number of workers in a company or the amount of money a government or company spends:
    The shortage of teachers was blamed on government cutbacks.
    cutback in
    cutbacks in funding for libraries
    A fall in donations has forced the charity to make cutbacks.
    sharp/drastic/severe cutback
    sharp cutbacks in the military budget
cut back(1)