eldercut means: Proverbial “thinning” of the herd is the best description of corporate downsizing or pension elimination, and benefits cutback. (in Open Dictionary, added by Aaden Snyder)

What else does eldercut mean?

An out-of-style haircut. A haircut your elders might order. This is usually used by young people who want a more modern haircut. (in Open Dictionary, added by Cristopher Mills)

If an older member of the human family doesn’t want to stand in long lines. They will usually order a buffet. (in Open Dictionary, added by Brynn Mack)