In addition to cutting in the context menu there is also a very efficient tool for cutting objects. With a little practice cutting of audio and videos can be done much faster in Cut Mode.
Activate tool 
Cut objects in the tool bar by clicking the button. For brief and temporary activation press the Y key. See also Enabling the tools.
If you move the mouse pointer across an object a scissors symbol will be displayed. For cutting proceed as follows:
Cut left ...left-click the location where you would like to cut the object and hold the button down until the mouse pointer symbol changes. While holding the left mouse button down you can still adjust the locator to find the accurate cutting location. The cut is only made when you let go of the mouse button.
Cut right ...as above, but you use the right mouse button to click the required cutting location in the object.
Divide ...as above, but the object is clicked both with the right and the left mouse button. As soon as you let go of one or both buttons the action is performed. In order to adjust the locator it will do to press one mouse button followed by briefly pressing the second mouse button to cut and divide the object.
Cancel cut ...if you have already pressed the mouse button you just move the mouse pointer to outside the object and let go of the button. In that case the cut is not performed. Any accidental cuts can be made undone by clicking 
.
Terminate Cut Mode and return to normal editing mode by clicking 
Edit objects in timeline and screen. Alternatively, you can also briefly press the Y key.
If you want to cut several parallel objects, e.g. video and sound objects, you need to highlight them prior to cutting. See also Highlighting objects.
You might also want to try tool 
Snap to objects which makes the locator magnetic and allows very precise moving and joining of audio chunks. See Snapping to objects.
See also