to shave (wood, leather, etc.), to sharpen (e.g. pencil), to plane, to whittle, to pare, to scrape off, to erode, to cut down (budget, expenses, staff, time, etc.), to curtail, to reduce, to delete, to erase, to remove, to cross out, to strike out
削る【はつる】
to shave off (esp. concrete), to take a percentage, to take a cut