Staff to cut wages in spoof (6)
I believe the answer is:
parody
'spoof' is the definition.
(synonyms)
'staff to cut wages' is the wordplay.
'staff' becomes 'rod' (both can mean a stick or cane).
'to cut' is an insertion indicator.
'wages' becomes 'pay' (I've seen this before).
'rod' put inside 'pay' is 'PARODY'.
'in' acts as a link.
(Other definitions for parody that I've seen before include "Comic imitation of, say, well-known literary style" , "Humorous misrepresentation" , "a lampoon or comic imitation" , "Satirical imitation" , "Skit" .)