From Longman Dictionary of Contemporary Englishbloodlettingblood‧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
bloodletting• I 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. 