It depends how it is put into ACTIONS/TYPE OF CONVERSATION.Usually it would mean being cut off from an activity,work etc...This also means as in i will cut you with something a knife,scissors or so but surely no one will say this unless you plan to harm that person or cut a rope from a person stuck to it or any other thing.Being cut off from a such thing,activity,work,school,game,friendship(left out/not able to be in what was mentioned)