cutbackcut·back /ˈkʌtbæk/ noun [countableC usually plural] a reduction in something, such as the number of workers in a company or the amount of money a company or government spendsFinancial cutbacks have led to a decline in the number of staff attending overseas conferences.
If GM, Ford and Chrysler start to lose market share, we could see production cutbacks and job losses that could hurt the U.S. economy.
The shortage of teachers was blamed on government cutbacks.