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"funding cuts" is correct and usable in written English.
It can be used when discussing reductions in the amount of money available to support a project, program, or other activity. For example, "The governor announced a series of funding cuts to public schools this week."
Exact(60)
Funding cuts, he said, must be reversed.
It was closed due to funding cuts.
Facilities are being closed because of funding cuts.
One respondent said: "We have been decimated by funding cuts.
It has not been immune from funding cuts.
Thankfully, funding cuts don't appear to have compromised creative mischief.
Reports of funding cuts for vital medical research are emerging.
Neither do funding cuts to frontline legal aid services".
Where are funding cuts having the biggest impact to theatre?
And there is always the danger of funding cuts.
Funding cuts because refuges do not take men.
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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