Managing file versions in Cloud Backup

Norton Cloud backup saves versions of each selected file every time the backup programme is run. It would be good to have an option to save just a user-selected number of version, for example the last 5 versions and older versions automatically removed from the backup set. This would prevent the set becoming ever larger for files that are regularly updated, such as spreadsheets for example. 

A further option that some users might appreciate could be to automatically remove files that no longer exist on the computer from the Backup set. This might be a feature that users would run from time to time to clean up the backup set. 

I backup My Files to a Home External drive and haven't noticed this.. I don't mind having a SET..of ..say. The LAST Three Backups.. In case of Backup File Corruption....with each New backup overwriting the Oldest of the set...... I will have to check this myself and verify that this is an Issue.

I just started researching this issue and found this post. So, is it true that there is currently no way to purge old versions of files in a backup set saved to the cloud? Hard to believe, really...