Crossword Genius

Victim of economy cuts? (4)

Ross

I believe the answer is:

axed

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If this is the answer, I'm afraid I cannot explain it.

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(Other definitions for axed that I've seen before include "Made redundant" , "Discontinued with hatchet?" , "Dismissed with a hatchet" , "Sacked with a hatchet? (4)" , "Abandoned or curtailed - using hatchet?" .)

I've seen this clue in the Evening Standard.
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