A cutting assembly is provided that is adapted for use in combination with a container for dispensing a web of material. The dispensing container includes a plurality of adjoining sidewalls which define an external geometric profile. The cutting assembly includes a guide disposed in combination with a sidewall of the container and a cutter adapted for traversing within the elongate guide in a desired cutting direction. Furthermore, guide and bearing surfaces, formed on the guide and cutter, respectively, cooperate to permit sliding motion therebetween in the cutting direction and interlock to delimit displacement of the cutter relative to the guide in directions orthogonal to the cutting direction. A portion of the guide and cutter is disposed proximal to a corner of the container and recessed relative to its external geometric profile to facilitate container storage and display while additionally producing an aesthetically pleasing appearance. The cutting assembly may also be adapted to structurally augment the corner of the container to obviate structural flaws which may develop due to loads imposed by the cutting assembly on the container.