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

a reduction in something, especially in money spent

Example:
The company announced significant cutbacks in its budget.
Government cutbacks have affected public services.
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