Job cut reversed in concession (3)
I believe the answer is:
sop
'concession' is the definition.
(I know that sop is a type of concession)
'job cut reversed' is the wordplay.
'job' becomes 'post' (post is a kind of job).
'cut' means to remove the last letter.
'reversed' shows that the letters should be reversed in order.
'post' with its last letter removed is 'pos'.
'pos' reversed gives 'SOP'.
'in' acts as a link.
(Other definitions for sop that I've seen before include "Appeasing gift" , "Minor concession" , "A concession or bribe, once offered to Cerberus" , "Bread dipped in gravy" , "A bribe or appeasement" .)