cutback

• POS: Noun, Verb (usu participle)
• HYPHEN: cut=back

CIDE DICTIONARY

cutback, n. 

•  a reduction in quantity or rate; a reduction in the amount of an activity or the funding for an activity; as, cutbacks in government research funding increased unemployment among scientists; the recession caused a cutback in auto production.  [WordNet 1.5]
•  a return to an earlier scene or story line in a novel, movie, etc.  [PJC]
•  a sudden switching of directions of a running football player, a surfboarder, etc.  [PJC]

THESAURUS

cutback

cheeseparing, cooling, cooling down, cooling off, curtailment, cut, economization, economizing, low growth rate, pullback, reduction of expenses, reduction of spending, retrenchment, rollback, saving, scraping, scrimping, skimping, slowdown, sparing