The Cavaliers waived Livingston (hand) on Tuesday, Chris Fedor of The Cleveland Plain Dealer reports.
Livingston recently suffered a hand injury and is likely to miss about a month of action, prompting the Cavaliers to cut him loose to open up a two-way spot for another player. The 22-year-old forward appeared in just three games with the parent club this season, averaging 3.0 points in 5.7 minutes per contest.