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A situation in which your job almost changes without your approval/knowledge, but when all is said and done, nothing actually changes.

A situation in which an individual's employer talks about changing the employee's status, but it never materializes.

Origin: The Denver Broncos received a trade proposal in February 2009 that would have sent Jay Cutler to Tampa Bay. Cutler was very upset with the situation, even though no trade ever happened. This trade that never happened has spurred the term "Undercutler(ed)".
Damn dude, I heard from Betty in HR that I got fired today. I'd better start looking for a new job incase it's not just an undercutler next time.

I really want to fire that guy but it's all one big undercutler.
by SmartWaterHippie March 18, 2009
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