A drum-type shear for cutting high-speed strip, especially hot strip, includes a blade that is movable radially into and out of a rotating blade drum from which it is extendable into a strip-cutting position at a desired cutting time. In order to provide reliable and accurate cross-cutting of even broad and thick strips using nevertheless simple structural means, a linearly translatable push-pull rod that extends axially in the blade drum has wedge surfaces that abut with corresponding wedge surfaces of the blade or blade holder for extending and retracting the cutting blade. The push-pull rod rotates with the blade drum and is connected to a stationary linear drive via a thrust bearing for transmitting axial rod-translating forces to the push-pull rod as the rod rotates with the drum.