A shank of a milling cutter can be somewhat elastic. As a result, during plunging down into a workpiece the milling cutter will not plunge in a true axially downward direction and will form a slanted wall in the workpiece. A milling cutting insert is provided which is capable of “straightening out” the slanted wall. The cutting insert has a rear cutting edge which removes material when the milling cutter is moved axially upwardly.