tv. to do something to stop a loss of something. : I knew I had to do something to cut my losses, but it was almost too late.
Dictionary of American Slang and Colloquial Expressions by Richard A. Spears.Fourth Edition. Copyright 2007. Published by McGraw Hill.
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American Heritage
Idioms & Phrases
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).
