bloodletting

noun3

1. •
   The diminishment of any resource with the hope that this will lead to a positive effect.

   • Yet another round of corporate bloodletting.
2. •
   (historical) 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.