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).

Words nearby cut one's losses

cut no ice, cut of one's jib, cut off, cut off one's nose to spite one's face, cut off with a shilling, cut one's losses, cut one's teeth on, cut out, cut out of whole cloth, cut plug, cut rate