bloodletting

noun

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

   “The pungent pain, dyspnœa, cephalalgia, redness of the face, pulsations of the heart, strong and rapid, the pulse full and vibrating, induced M. Peyrade, then attached to that hospital, to practise blood-letting in the arm. It was followed with marked relief.”

2. (broadly)The diminishment of any resource with the hope that this will lead to a positive effect.

   “Yet another round of corporate bloodletting.”

   “Only when the bankers and industrialists abroad realized that a ferocious class struggle in Germany was raging did they begin to relent somewhat on their economic bloodletting.”

3. A circumstance, such as a battle, where a large amount of blood is likely to be spilled through violence.

   “In 1856 Tu Wen-hsiu rose up in rebellion and occupied Ta-li.[...]"The conflict between the Han Chinese and the Moslems began over trifles. It has developed into a tragedy of mutual bloodletting because of poor management by the civil and military officials at Yung-ch'ang county and of Yunnan province. As a result, the mutual killing spread throughout Yunnan. The fault lies not with the people but with the officials."”

verb

1. (form-of, gerund, participle, present)present participle and gerund of bloodlet