cut one’s losses

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.
See also: cut, loss

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.
See also: cut, loss