An improved cutting insert with chip control features and a method for manufacturing the same. An insert body having wall regions, sides and top and bottom walls is adapted for mounting in a pocket in a holder. The insert body has cutting edges and a diagonal notch in the top and bottom sides. A land region extends rearwardly from the end wall region toward the respective top or bottom wall and defines a surface region of a predetermined width. A descending wall initiates in a portion of the land and terminates in a planar floor region having a forward, a rearward and opposed side edges. A back ramp extends upwardly from the planar floor rearward edge and terminates at the respective top or bottom wall. The end wall region can include at least one flat land region adjacent the land region. The flat land region defines a selectively removable portion of the end wall region and after any selective removal thereof represents no more than approximately one-third of the total width of the end wall region.