I've never cut a player while my reputation was already taking a hit from an earlier cut, but generally you'll lose two signs (From A+ to A-) for one cut...and then if you had cut a player the season before, using the same formula, would take that A- back to a B (assuming no additional effect for the compounding of the cuts). You gain back roughly one grade level for each season you don't cut someone. So assuming you were at a B two seasons ago after the cut, an A- is exactly where you should be after 2 seasons and I don't see anything wrong here.