A phrase used by nimrods who want to be "up beat" with the millennium’s technology advance by switching a technical term into a harsh question when they could just ask you nicely if something was bothering you.
"Geebuz d00d, what's your damage?"
"Mom, cut it out, you're scaring little Timothy."
1) Mafia guy: "We've hit that mother and she saw we were carrying drugs, we gotta do some damage control".
2) Company guy: "An employee left the beta version of his iPhone in a bar, we sent the security for some damage control".