Idiom: to cut one's
losses
When things aren't going well, you might have to quit
something and take a loss. That loss
might be in the form of money, reputation, territory or property. You are going to lose something, but maybe if
you wait, you will lose more. Cutting
your losses means limiting how much you will lose.
examples
The new product wasn't selling well, so the company decided
to cut their losses and stop production.
Daniel was having trouble and decided to cut his losses and
sell his house for less than he paid.
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