cut·back

[kuht-bak]
noun
1.
a reduction in rate, quantity, etc.: a cutback in production.
2.
a return in the course of a story, motion picture, etc., to earlier events.
3.
Football. a play in which the ball-carrier abruptly reverses direction, especially by starting to make an end run and then turning suddenly to run toward the middle of the line.
4.
a maneuver in surfing of heading the surfboard back toward a wave's crest.

Origin:
1895–1900; noun use of verb phrase cut back

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Based on the Random House Dictionary, © Random House, Inc. 2013.
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00:10
Cutback is always a great word to know.
So is zedonk. Does it mean:
a gadget; dingus; thingumbob.
the offspring of a zebra and a donkey.
Collins
World English Dictionary
cutback (ˈkʌtˌbæk) [Click for IPA pronunciation guide]
 
n
1.  a decrease or reduction
2.  another word (esp US) for flashback
 
vb (when intr, foll by on)
3.  (tr) to shorten by cutting off the end; prune
4.  to reduce or make a reduction (in)
5.  chiefly (US) (intr) (in films) to show an event that took place earlier in the narrative; flash back

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Example sentences
Cutback and emulsified asphalt are used in nearly all paving applications.
He makes quick decisions and closes quickly, but sometimes that takes him out
  of plays against cutback runners.
Sample cutback asphalt and asphalt filler at random at a rate of not less than
  ten percent of both storage tanks and shipments.
And the cutback in defense spending has slowed the economy and brought higher
  unemployment than anyone finds satisfactory.
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