Meaning of the word cutback in English

What does cutback mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

cutback

US /ˈkʌt.bæk/
UK /ˈkʌt.bæk/

Noun

1.

a reduction in something, made in order to save money:

Example:
The closure of the Manchester printing factory is the company's biggest single cutback so far.
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