— bloodletter , n.
/blud"let'ing/ , n.
1. the act or practice of letting blood by opening a vein; phlebotomy.
2. bloodshed or slaughter.
3. bloodbath.
4. Informal. severe cutbacks or reduction in personnel, appropriations, etc.: The company went through a period of bloodletting in the 1970s.
[ 1175-1225; ME blod letunge. See BLOOD, LET 1 , -ING 1 ]