bloodletting

ot noun

1. (by extension) The diminishment of any resource with the hope that this will lead to a positive effect. Yet another round of corporate bloodletting.
2. The archaic practice of treating illness by removing some blood, believed to be tainted, from the stricken person.
3. A circumstance, such as a battle, where a large amount of blood is likely to be spilled through violence.

fe’l verb

1. To bleed; let blood; phlebotomise.