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You can usually tell when an article on a sports topic is written by a rank amateur who knows nothing about the topic he's covering. The term "cut" is not applicable here.

Bass has been designated for assignment under the terms of the collective bargaining agreement between MLB and the MLB Players Association. That's simply a formal process that allows the team to take him off their roster and replace him with another player while they figure out what to do with him. They can trade him, demote him to the minors (which may not be allowed, at his age), or release him outright. In any case, the team must still pay him through the remainder of his contract unless another team picks him up.

My understanding is that his contract expires after this season, so it's not like the team is losing a lot of money here. And he seems to be a marginal relief pitcher at this stage of his career.