cut (one's) losses definition
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| an arrangement of five objects, as trees, in a square or rectangle, one at each corner and one in the middle. |
| a scrap or morsel of food left at a meal. |
cut one's losses
Withdraw from a losing situation, as in They decided to close down the unprofitable branch and cut their losses. This expression uses cut in the sense of "reduce" (also see cut down, def. 2).