Definition of cutback noun from the Oxford Advanced Learner's Dictionary

 

cutback

 noun
noun
BrE BrE//ˈkʌtbæk//
 
; NAmE NAmE//ˈkʌtbæk//
 
Unemployment
 
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[usually plural] cutback (in something) a reduction in something cutbacks in public spending staff cutbacks See related entries: UnemploymentExtra examples Many schools are having to make major cutbacks. a sharp cutback in military spending Schools and hospitals will need to be prepared for sharp cutbacks in public spending. There have been substantial staff cutbacks in order to save money.
See the Oxford Advanced American Dictionary entry: cutback