The most common and most likely answer to this crossword clue is the 10 letter word ECONOMISED
I've seen this crossword clue in The Daily Telegraph
E
C
O
N
O
M
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S
E
D
More clues leading to the result ECONOMISED
Buddy explains!

The straight part
We know that "Cut back" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case cut back = economised.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does ECONOMISED mean?
ECONOMISED verb- To practice being economical (by using things sparingly or in moderation, and by avoiding waste or extravagance).
- To use frugally.