Cutbacks refer to reductions in spending or resources, often implemented by organizations, businesses, or governments to manage budgets more effectively. These measures can include layoffs, reduced hours, or decreased funding for programs. The goal is to maintain financial stability during challenging economic times. In the context of a company, cutbacks may affect employee benefits, project funding, or operational costs. For example, a business facing declining sales might reduce its workforce or limit expenses on marketing and research and development. Such decisions can help the organization survive but may also impact employee morale and productivity.