Speed up a clip with jump cuts in Final Cut Pro

To compress time in a long clip without playing the clip at fast speed, you can create jump cuts to periodically skip over a specific number of frames. For example, if you have a 10-second shot of a person walking down a hallway, rather than playing the entire 10 seconds, you can create jump cuts every 2 seconds that skip 30 frames each, so the action happens in a fraction of the time.

In the Final Cut Pro timeline, select the clip that you want to speed up, then add a marker at each frame where you want a jump cut to occur.
Click the Retime pop-up menu below the viewer and choose Jump Cut at Markers, then choose a number of frames from the submenu.
You can skip 3, 5, 10, 20, or 30 frames.

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Final Cut Pro User Guide

Speed up a clip with jump cuts in Final Cut Pro