cut one's losses
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cut (one's) losses
To stop an action that has resulted in loss or failure or leave a failing situation before it gets worse. Man, this venture is going nowhere—I think we're better off cutting our losses than agreeing to rent this space for another year.
Farlex Dictionary of Idioms. © 2015 Farlex, Inc, all rights reserved.
cut one's losses
Withdraw from a losing situation, as in They decided to close down the unprofitable branch and cut their losses. This expression uses cut in the sense of "reduce" (also see cut down, def. 2).
The American Heritage® Dictionary of Idioms by Christine Ammer. Copyright © 2003, 1997 by The Christine Ammer 1992 Trust. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
cut one’s losses
tv. to do something to stop a loss of something. I knew I had to do something to cut my losses, but it was almost too late.
McGraw-Hill's Dictionary of American Slang and Colloquial Expressions Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved.