They need a 50% cut looked at (4)
I believe the answer is:
eyed
'looked at' is the definition.
(I've seen this in another clue)
I don't understand how the remainder of the clue works.
Can you help me to learn more?
(Other definitions for eyed that I've seen before include "Vegetable" , "Saw" , "Watched, looked at" , "Stared at" , "Looked at, warily perhaps" .)