|Definition - The process of creating new words by removing letters from existing words.|
Example - The word gent was coined from the word gentleman by a process called back-clipping.
Oxford English Dictionary - The term's first citation is from 1933:
"Slang delights to curtail (clip, abbreviate, shorten) words.… Many such clippings have passed into standard English, as with cab for cabriolet, bus for omnibus."
(Partridge Slang To-day & Yesterday i. iii. 27 )