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From Longman Dictionary of Contemporary English
Related topics: History, Hospital, Employment
bloodlettingblood‧let‧ting /ˈblʌdˌletɪŋ/ noun [uncountable]  1 KILLkilling people syn bloodshed The movie contains scenes of violence and bloodletting.2 SHMHa medical treatment used in the past that involved removing some of a person’s blood3 BEa reduction in the number of people working for an organization, industry etc Many jobs have been lost, and the bloodletting isn’t over yet.
Examples from the Corpus
bloodlettingI won't go into the commercial bloodletting that followed.We've heard rumors that a major management bloodletting is about to happen.Troops are trying to stop the worst of the bloodletting in the capital.
From Longman Business Dictionarybloodlettingblood‧let‧ting /ˈblʌdˌletɪŋ/ noun [uncountable] journalismHUMAN RESOURCES dismissing employees in large numbersAfter two years of layoffs, bloodletting at the company may be over.
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