Crossword Genius

Locusts had cut out waste (4)

Ross

I believe the answer is:

loss

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'waste' is the definition.
(thesaurus)

I don't understand the remainder of the clue.

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(Other definitions for loss that I've seen before include "Defeat; bereavement" , "Failure to profit or succeed" , "Deprivation; failure" , "sacrifice?" , "Destruction" .)

I've seen this clue in the Sydney Morning Herald.
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