The most common and most likely answer to this crossword clue is the 8 letter word EXCISING
E
X
C
I
S
I
N
G
Buddy explains!

The straight part
We know that "Cutting out" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case cutting out = excising.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 EXCISING mean?
EXCISING verb- To impose an excise tax on something.
- To cut out; to remove.