  A G-equivariant spin^c structure on a manifold gives rise to a virtual
representation of the group G, called the spin^c quantization of the manifold.
We present a cutting construction for S^1-equivariant spin^c manifolds, and
show that the quantization of the original manifold is isomorphic to the direct
sum of the quantizations of the cut spaces. Our proof uses Kostant-type
formulas, which express the quantization in terms of local data around the
fixed point set of the S^1-action.
