Victim of economy cuts? (4)
I believe the answer is:
axed
If this is the answer, I'm afraid I cannot explain it.
Can you help me to learn more?
(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?" .)