IPA: /ˈkʌtˌbæk/
KK: /ˈkʌtˌbæk/
A reduction in the amount or level of something, often related to spending or resources.
The company announced a cutback in its budget for the upcoming year.
Cutback → It is formed from "cut" (from Old English "cyttan", meaning to sever or divide) and "back" (meaning in reverse or towards the rear). The word "cutback" refers to a reduction or decrease, often in terms of spending or resources, implying a severing of excess.
Think of 'cutting' something down or reducing it ('cut') and then moving it 'back' — that's why cutback means to reduce or decrease.