Bloodletting Definition

blŭdlĕtĭng
blood-letting
noun
Bloodshed.
Webster's New World
The opening of a vein to remove blood; phlebotomy.
Webster's New World
The laying off of personnel or the elimination of resources.
American Heritage

The archaic practice of treating illness by removing some blood, believed to be tainted, from the stricken person.

Wiktionary

By extension, the diminishment of any resource with the hope that this will lead to a positive effect.

Wiktionary

Other Word Forms of Bloodletting

Noun

Singular:
bloodletting
Plural:
bloodlettings

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bloodletting