"cut budgets" is a correct and usable phrase in written English.
You might use it when discussing a company's financial goals for the upcoming year or when highlighting the need to reduce operational costs. For example, "In order to remain competitive in the market, our company needs to cut budgets in the coming year."
Exact(59)
In plain English, he means cut budgets.
He froze salaries, cut budgets and refused to negotiate with professors, who eventually organized a union.
Defense spending is declining among most E.U. countries as governments cut budgets.
The Times Company has cut budgets, including seven hundred jobs at its various properties this year.
"The legislature cut budgets so drastically that the judiciary have to be debt collectors," he said.
*Congress and successive administrations have cut budgets for public diplomacy in recent years.
But the risks involved frequently persuade them to cut budgets instead.
If marketers cut budgets, that could intensify the recent sharp downturn in consumer spending.
Plans announced before Easter for a national funding formula might also cut budgets.
In recent months, the governments of Ireland and Portugal have been ousted over efforts to cut budgets and benefits.
"The pressure to cut budgets is always there," said Joe Abernathy, vice president for stadium operations for the Cardinals.
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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