a tool with a wooden handle and a heavy metal blade, used for cutting up wood, cutting down trees, etc.

if somebody gets the axe, they lose their job; if an institution or a project gets the axe, it is closed or stopped, usually because of a lack of money

Up to 300 workers are facing the axe at a struggling Merseyside firm.

Patients are delighted their local hospital has been saved from the axe.

Protesters, anxious over the spending cuts, urged councillors to think again before wielding the axe.

to get rid of a service, system, etc. or to reduce the money spent on it by a large amount

Jones has been axed from the team.

2 500 employees were axed as part of a rationalization program.

LEARNit Dictionary