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The phrase "about to be slashed" is correct and usable in written English.
It can be used to indicate that something is on the verge of being cut or reduced, often in a dramatic or urgent context.
Example: "The budget for the project is about to be slashed if we don't present a solid plan."
Alternatives: "on the brink of being cut" or "set to be reduced."
Exact(9)
My pension is about to be slashed.
Now, her jobless benefits are about to be slashed as a result of federal spending cuts.
There was concern that George Osborne and David Cameron didn't know or care about UK research, and that the research budget was about to be slashed by up to 25%.
That pot could be about to be slashed, however.
As James Wilsdon reported, the partner agencies of the department for business, innovation and skills (mostly quangos in some form) are about to be slashed from 46 to 23.
That means celebrating all that Labour achieved in the NHS, schools, Sure Start, child care, crime, the minimum wage and restoring pride in civic spaces, when so much of that is about to be slashed by the coalition.
Similar(51)
MARKET OVERVIEW From 2005 to 2007, housing prices in Northern Ireland rose to vertiginous heights, only to be slashed by about 40 percent in the ensuing real estate crisis, according to a report by the Northern Ireland Housing Executive, the public housing authority.
Weeks after that came the announcement that the soccer team's annual budget was to be slashed from about $150 million down to a a half or possibly n a third of that.
The expansive but vague Pledge to America produced by House Republicans does promise deep cuts in domestic spending, but it gives no further detail about which programs would be slashed.
Prices on selected fall merchandise will be slashed about 30percentthehe moment it reaches the racks.
Under AB 32, emissions from transportation, industry and other sources would be slashed about 15% from today's levels by 2020.
More suggestions(17)
about to be razed
about to be trapped
about to be divorced
about to be married
about to be overwhelmed
about to be inducted
about to be shaken
about to be slaughtered
about to be reached
about to be thrown
about to be charged
about to be inundated
about to be pulled
about to be released
about to be sent
about to be acquired
about to be discharged
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com